Pakistan receives $415m external financing in Oct

MG News | November 25, 2024 at 04:32 PM GMT+05:00
November 25, 2024 (MLN): Pakistan secured external financing worth $414.88 million in October 2024 from multiple financing sources, 30.1% lower than last month and 30.4% higher than the same month last year.
Cumulatively, in 4MFY25, the country only managed to secure $1.72 billion in external financing against the annual budget estimates of $19.39bn for FY25, the latest monthly report by the Economic Affairs Division (EAD) showed.
Last year, the government had budgeted $17.62bn foreign assistance but could only materialize $9.81 throughout the fiscal year.
During the review month, the total amount comprised $397.67m in loans and the remaining $17.21m in grants from various sources.
The full-year $19.39bn target for the current fiscal year includes $5.05bn from multilateral and bilateral lenders, $1bn in international bonds, $3.78bn foreign commercial loans, $5bn time deposit from Saudi Arabia, and $4bn safe deposit from China.
Going into details made available by EAD, the disbursement from bilateral and multilateral development partners totaled $247.51m in October and $980.88m during 4MFY25.
Although these inflows helped to improve foreign exchange reserves, they fell significantly short of the government's budget estimates.
Foreign assistance obtained through multilateral sources totaled nearly $238.03m in October and $720.99m in 4MFY25. While financing through bilateral development partners stood at $9.48m in October and $259.89m in 4MFY25.
The foreign commercial borrowing amounted to $167.37m in October 2024 and $542.15m in 4MFY25. This was obtained through Naya Pakistan Certificate.
To note the government has managed to secure $200m in the first three months of fiscal year through foreign commercial banks against the government’s budget estimates of $3.78bn for the full year.
To note, out of the total financing amount in October, the government obtained a $234.29m loan for non-project aid, which was in the form of program/budgetary support assistance to restructure Pakistan's economy. Cumulatively in 4MFY25, loans for non-project aid amounted to $896.96m.
Copyright Mettis Link News
Related News
Name | Price/Vol | %Chg/NChg |
---|---|---|
KSE100 | 135,630.04 163.04M |
0.99% 1330.28 |
ALLSHR | 84,766.82 560.70M |
0.89% 748.66 |
KSE30 | 41,197.99 61.41M |
0.94% 383.70 |
KMI30 | 193,094.37 58.06M |
0.26% 505.21 |
KMIALLSHR | 56,333.63 254.21M |
0.47% 261.39 |
BKTi | 37,751.12 18.12M |
2.11% 779.38 |
OGTi | 28,125.76 3.35M |
-0.41% -114.51 |
Symbol | Bid/Ask | High/Low |
---|
Name | Last | High/Low | Chg/%Chg |
---|---|---|---|
BITCOIN FUTURES | 122,975.00 | 123,615.00 118,675.00 |
4445.00 3.75% |
BRENT CRUDE | 71.06 | 71.29 70.35 |
0.70 0.99% |
RICHARDS BAY COAL MONTHLY | 97.50 | 0.00 0.00 |
0.25 0.26% |
ROTTERDAM COAL MONTHLY | 108.75 | 0.00 0.00 |
0.05 0.05% |
USD RBD PALM OLEIN | 998.50 | 998.50 998.50 |
0.00 0.00% |
CRUDE OIL - WTI | 69.18 | 69.39 68.41 |
0.73 1.07% |
SUGAR #11 WORLD | 16.61 | 16.67 16.54 |
0.04 0.24% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
Name | Last | Chg/%Chg |
---|
Name | Last | Chg/%Chg |
---|