Prospects of $4 billion worth of global funding to Pakistan as of June 30 are slim, IMF analysis
The total amount of loans received in the current financial year is expected to be 13 billion 61 crore 91 million dollars.
Instead of $3.5 billion, Pakistan is likely to get only $50 million or a maximum of $1 billion from international commercial banks.
ISLAMABAD ( Web News )
In the mid-term review of the financing plan for the current financial year 2023-24 between Pakistan and the IMF, the IMF has declared in its analysis that by 30 June 2024, after reviewing the global funding received by Pakistan from all sources. Pakistan has very little chance of international funding worth $4 billion. In this way, the value of the total loans received in the current fiscal year is expected to decrease from 17 billion 61 billion 91 million dollars to 13 billion 61 billion 91 million dollars. And while raising a question mark on the possibility of issuing your bond worth 1 billion 50 billion dollars in the international capital market, he has said that instead of 3.5 billion dollars, Pakistan is likely to get only 50 billion dollars or a maximum of 1 billion dollars from the international commercial banks. The chances of getting commercial financing of 2.5 billion dollars from international commercial banks seem to be gone. The IMF has expressed the expectation that due to the delay in the completion of transition of power in Pakistan, during the current financial year 2023-24, the international capital market of Pakistan will increase. It will not be able to issue its 1 billion 500 million dollar Eurobond, which will make Pakistan postpone the plan to use the financing received from the issuance of this bond until the new fiscal year 2024-25. , friendly countries, commercial banks and bonds had signed agreements to borrow a total of 17 billion 61 billion dollars and out of this, during the first half of July to December, a total of 5 billion 96 billion dollars worth of foreign funding has been made available to Pakistan and from January to June. In the second half of the year, Pakistan is yet to receive international funding worth 11.65 billion 10 million dollars under the program. Payment of $4 billion in debt owed to countries (Debt Roll Over) has got a reprieve and during the first half of the year Pakistan has not been able to get any loan from any international commercial bank.