March 03, 2025 01:49 pm (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Crucial to have Trump’s support, says Zelenskyy a day after fiery White House exchange | 'We're looking for peace, Zelenskyy wants Russia-Ukraine war to continue': Donald Trump after White House public spat | Volodymyr Zelenskyy refuses to apologise to Donald Trump after public spat over Russia-Ukraine war | 'Make a deal or we are out': Donald Trump tells Volodymyr Zelenskyy at White House | Himachal govt seeks fund from temple to support welfare schemes, BJP calls move 'shocking' | Injustice to opposition MLAs: Atishi writes to Delhi Assembly Speaker on suspension of 21 AAP lawmakers | We will leave for US tomorrow: Father of Indian student Neelam Shinde after urgent visa grant | 'Not joining BJP or floating any party': Abhishek Banerjee dismisses rumours of his split from TMC | Pune bus rape accused arrested after 75-hour manhunt | Finance Secretary Tuhin Kanta Pandey appointed as new SEBI chief
Pakistan Economic Crisis
Representational image by Abuzar Xheikh on Unsplash

Pakistan to borrow Rs 5.5 trillion from international lenders in the ongoing fiscal year

| @indiablooms | Jul 12, 2022, at 04:24 am

Islamabad: Pakistan is all set to borrow a whopping Rs 5.5 trillion from international lenders in the current fiscal year to maintain its foreign exchange reserves, repay previous loans and financing of current account deficit.

Earlier, in the annual budget 2022-23, the government had projected to borrow only Rs 3.17 trillion from international sources in the ongoing financial year.

However, the budget documents lacked financing from the International Monetary Fund (IMF), Saudi Arabia and of SAFE China deposit, reports The Nation.

The volume of the projected international borrowing has now increased to Rs 5.5 trillion after incorporating funding from aforesaid sources.

The borrowing would be 74 percent higher than the previous estimates of the government.

After the revision, the external resources of Rs5.503 trillion projected for 2022-23 are greater by more than 200 per cent from the initial Rs 2.7 trillion budgeted for 2021-22.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.