The government took $3.8 billion worth of new foreign loans in the first four months of the current fiscal, up 18 per cent, as it saw a further uptick in lending by the multilateral lenders once the International Monetary Fund (IMF) obstacle was crossed in a couple of months, The Express Tribune reported on Tuesday.
As per details, the government obtained $3.8 billion in gross foreign loans during the July-October period of FY22, according to the Ministry of Economic Affairs.
The borrowing was higher by $580 million, or 18pc, compared with the loans taken in the same period of last fiscal year.
The $3.8 billion of foreign loans did not incforeign loans did not include the borrowing made through the Naya Pakistan Certificates lude the borrowing made through the Naya Pakistan Certificates at up to 7pc interest in dollar terms for only one year.
Official statistics showed that bilateral lending to Pakistan almost dried up in the current fiscal year, standing at a mere $77.4 million so far for project financing.
An amount of $866 million was received in foreign commercial loans during the first four months of current fiscal year.
