Pakistan’s reliance on foreign commercial loans up
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December 12, 2020
ISLAMABAD: Pakistan’s reliance on foreign commercial loans has increased as Islamabad generated $3.4 billion or 32 per cent of total external loan inflows of $10.7 billion obtained for supporting the balance of payment position during the fiscal year 2019-20.
According to the Annual Report on Foreign Economic Assistance (FEA) for 2019-20 released by the Economic Affairs Division on Friday, it was stated that during FY 2019-20, an amount of $6.5 billion has been disbursed by multilateral and bilateral development partners as compared to $4.1 billion last year, registering 59% growth. In addition, the government raised $3.4 billion from foreign commercial sources to meet its external debt obligations and support the balance of payments. Out of the total disbursement of $10.7 billion, 97% were loans and 3% were grants.
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