Reports regarding 45% increase in foreign loans in 5-months period incorrect and misleading: EAD

MG News | December 18, 2020 at 02:43 PM GMT+05:00

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December 18, 2020: The Economic Affairs Division of Pakistan has said that the media reports regarding 45% increase in foreign loans in 5-months period are completely incorrect and misleading.

In a series of tweets made on Friday, the EAD stated the following key facts:

•During first 5-months of current FY (Jul-Nov 2020), the government received gross external inflows of US $4.5 billion. During this period, govt paid back US $2.9 billion on account of external public debt and its servicing. Thus, net inflow was US $1.6 billion.

•During tenure of current Govt, total external inflow amounted to US $26.6 billion which were primarily used for repayment of external public debt and its servicing of US $23.4 billion. Thus, net inflow was US$ 3.2 billion.

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