Foreign borrowing by Pakistan shrinks by over 33% in November

January 2, 2019 (MLN): Foreign borrowing by Pakistan in November 2018 exclusively, has reduced by over 33% as compared to October, disclosed records maintained by the Economic Affairs Division (EAD).

As of November 2018, the government of Pakistan borrowed a sum of $1.86 billion from international outlets during the first five months of fiscal year 2019, i.e. in the July-November period.

During the month of November, around $272.4 million were borrowed from various channels including Canada which lent the maximum amount ($120 million) and Asian Development Bank (ADB) which lent $57.3 million.

Collective figures for these five months show that the biggest source of borrowed income for Pakistan has been China, as it has lent a sum of $648.5 million up till now.

The other main lenders are Commercial Banks ($449 million) and IDB (Short term) which has lent $272 million.

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