Islamabad, Dec 24: Pakistan borrowed $2.667 billion from various financing sources during the first five months (July-November) of fiscal year 2024-25, as opposed to $4.285 billion during the same period in 2023-24, according to data from the Economic Affairs Division (EAD).
The $2.667 billion total excludes the first tranche of $1.03 billion received from the International Monetary Fund (IMF). When including IMF inflows, the total for the first five months of the current fiscal year reaches $3.697 billion.
The government had projected $9 billion in time deposits, including $5 billion from Saudi Arabia and $4 billion from China’s SAFE, for the fiscal year. However, no funds were received under this category during the first five months (July-November).
No assistance was reported from the UAE either. Additionally, while the government had budgeted $1 billion from bond issuance, no bonds were issued, and thus no funds were received in the first five months of 2024-25.
In November, the country received $944.20 million from various sources, primarily $594.78 million from the Asian Development Bank (ADB).
Under the “Naya Pakistan Certificate” scheme, Pakistan received $734.90 million during July-November 2024-25, including $192.75 million in November.
From July-November 2024, Pakistan received $1.464 billion from multilateral sources and $268.80 million from bilateral sources. Non-project aid amounted to $1.597 billion, which included $743.47 million for budgetary support, while project aid was $1.070 billion during the same period.
The ADB disbursed $767.83 million, compared to the budgeted $1.651 billion for fiscal year 2024-25. The IDA disbursed $304.78 million, well below the budgeted $1.525 billion, and the IBRD disbursed $110.28 million against a planned $550.22 million. The IsDB disbursed $119.25 million during the first five months, compared to the budgeted $550.22 million, and the AIIB provided $34.25 million. The IFAD disbursed $26.12 million against the budgeted $40.45 million for 2024-25.
China disbursed $98.21 million during this period, with $134.18 million projected for the full fiscal year. Saudi Arabia provided $8.67 million, well below the budgeted $76.02 million for the year, while the USA contributed $38.25 million, surpassing its budgeted $20.88 million for fiscal year 2024-25.
