Islamabad, October 30, 2024 – The Europe Today: Pakistan secured $1.3 billion in foreign loans from multilateral and bilateral creditors during the first quarter (July-September) of the fiscal year 2024-25, excluding a $1 billion tranche disbursed by the International Monetary Fund (IMF). The country resumed commercial financing, acquiring $200 million within the first quarter, though no international bonds were issued despite a $1 billion target for the fiscal year. Additionally, $374 million was raised through the Naya Pakistan Certificate program.
According to official data from the Economic Affairs Division, the total foreign loan disbursements included $492.96 million from multilateral creditors, such as the World Bank, ADB, IsDB, and AIIB, and $250.29 million from bilateral creditors.
Although Pakistan has set a goal to secure $19.4 billion in foreign loans for the ongoing fiscal year, only $1.3 billion was acquired in the first quarter. If the $1 billion IMF disbursement under the $7 billion Extended Fund Facility is included, the total foreign loans would amount to $2.3 billion for the first quarter. The IMF’s support is recorded in the State Bank of Pakistan’s books as balance of payment assistance.
