{"id":8891,"date":"2023-09-28T22:34:07","date_gmt":"2023-09-28T22:34:07","guid":{"rendered":"https:\/\/news.pakistaninewspaperlist.com\/pakistan-secures-3-2bn-in-loans-in-first-two-months-of-fiscal-year-2023-24-daily-times\/"},"modified":"2023-09-28T22:34:07","modified_gmt":"2023-09-28T22:34:07","slug":"pakistan-secures-3-2bn-in-loans-in-first-two-months-of-fiscal-year-2023-24-daily-times","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/pakistan-secures-3-2bn-in-loans-in-first-two-months-of-fiscal-year-2023-24-daily-times\/","title":{"rendered":"Pakistan secures $3.2bn in loans in first two months of fiscal year 2023-24 &#8211; Daily Times"},"content":{"rendered":"<div>\n<p>Pakistan has secured $3.206 billion in loans in the first two months of the current fiscal year 2023-24, compared to $439.32 million borrowed during the same period of 2022-23, according to data from the Economic Affairs Division (EAD).<\/p>\n<p>The government budgeted $2.4 billion from the International Monetary Fund (IMF) for the current fiscal year and has received $1.2 billion as the first tranche of the $3 billion Stand-By Arrangement (SBA) in July. However, the EAD data does not reflect this.<\/p>\n<p>Additionally, there is no mention of $1 billion disbursed by the UAE. If the IMF and UAE inflows are added, total inflows are $5.405 billion during the first two months of the current fiscal year.<\/p>\n<p>The $3.206 billion includes $2 billion from Saudi Arabia under the head of time deposit in July 2023. The data further shows that the government had budgeted $4.5 billion from foreign commercial banks. However, no money was borrowed under this head in July and August.<\/p>\n<p>The government budgeted $1.5 billion from issuance of bonds, and here too the country is yet to issue bonds, hence no amount has been received under this account.<\/p>\n<p>Pakistan had borrowed $10.844 billion from multiple financing sources, including $2.206 billion from foreign commercial banks, in 2022-23 against the budgeted foreign assistance of $22.817 billion. However, the $10.844 billion did not include the rollover of friendly countries\u2019 deposits amounting to $6 billion ($3 billion each from China and Saudi Arabia), and re-financing of Chinese loans of $1.3 billion.<\/p>\n<p>The Pakistani government is under pressure to improve its economic performance, as it faces a number of challenges, including high inflation, a widening current account deficit, and a depreciating currency. The IMF loan is expected to help Pakistan improve its economic stability and avert a balance of payments crisis.<\/p>\n<p><!-- AI CONTENT END 2 -->\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Pakistan has secured $3.206 billion in loans in the first two months of the current fiscal year 2023-24, compared to $439.32 million borrowed during the same period of 2022-23, according to data from the Economic Affairs Division (EAD). The government budgeted $2.4 billion from the International Monetary Fund (IMF) for the current fiscal year and [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":8892,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/dailytimes.com.pk\/assets\/uploads\/2017\/11\/24\/LOAN.jpg","fifu_image_alt":"","footnotes":""},"categories":[9],"tags":[],"class_list":["post-8891","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-updates-news"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/8891","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/comments?post=8891"}],"version-history":[{"count":0,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/8891\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media\/8892"}],"wp:attachment":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media?parent=8891"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/categories?post=8891"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/tags?post=8891"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}