{"id":26459,"date":"2023-11-20T10:06:05","date_gmt":"2023-11-20T10:06:05","guid":{"rendered":"https:\/\/news.pakistaninewspaperlist.com\/pakistan-borrowed-3-81-bln-in-first-4-months-of-fy23-24\/"},"modified":"2023-11-20T10:06:05","modified_gmt":"2023-11-20T10:06:05","slug":"pakistan-borrowed-3-81-bln-in-first-4-months-of-fy23-24","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/pakistan-borrowed-3-81-bln-in-first-4-months-of-fy23-24\/","title":{"rendered":"Pakistan borrowed $3.81 bln in first 4 months of FY23-24"},"content":{"rendered":"
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ISLAMABAD: Pakistan borrowed $3.81 billion in the first months of FY2023-24, ARY News reported quoting the Economic Affairs division report.\u00a0<\/strong><\/p>\n

The report stated that Pakistan\u2019s international borrowing decreased to $3.81 bln as compared to $4.20 bln in the first four months (July-October) 2022.<\/p>\n

The report further stated that the country took a $2 billion international loan in October 2022.<\/p>\n

In 2023, Pakistan took $2 billion loan from Saudi Arabia as a safe deposit, while also purchased oil worth $400 million on deferred payments from the kingdom in the first four months of FY2023-24.<\/p>\n

Pakistan expects to receive more than $17.62 billion in external financial assistance<\/a>\u00a0in the current financial year, the report reveals.<\/p>\n

Read more: Pakistan borrowed US$ 10.40 billion in PTI tenure: NA informed<\/a><\/strong><\/em><\/p>\n

Last week, Pakistan and the International Monetary Fund (IMF) reached a staff-level agreement on the first review under Pakistan\u2019s Stand-By Arrangement (SBA).<\/p>\n

This was disclosed in a statement issued by the IMF after delegation-level talks between the two sides in Islamabad.<\/p>\n

The agreement is subject to the approval of IMF\u2019s Executive Board after approval around US$700 million will be available bringing total disbursements under the program to almost US$1.9 billion.<\/p>\n

The IMF team thanked the Islamabad authorities, private sector, and development partners for fruitful discussions and cooperation throughout this mission.<\/p>\n<\/div>\n<\/div>\n