Foreign borrowing by govt totals at $1.6 bln by October end
MG News | November 28, 2018 at 01:48 PM GMT+05:00
November 28, 2018 (MLN): Foreign borrowing by the government, by the end of first four months of fiscal year 2019, have totaled at $1.6 billion, reveals official data reported by the Economic Affairs Division.
During the month of October 2018 alone, a total of $410 million were borrowed by the government of Pakistan, a major chunk of which turns out to be loans ($402 million), mainly from commercial banks and China.
Compared to previous month, the government borrowing has increased by over 80%, since in September the total amount borrowed, clocked in at $225 million.
Collective figures for these four months reflect that the biggest source of borrowed income for Pakistan has been China, as it has lent a sum of $528 million up till now.
The other main lenders are Commercial Banks ($399 million) and IDB (Short term) which has lent $272 million.
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