Total external inflows reach $10.186 billion during FY2018-19

ISLAMABAD: The total external inflows during fiscal year 2018-19 were recorded at $10.186 billion, including loans and grants of $9.856 billion and $330 million, respectively, official sources said.

According to One Year Performance Report launched by the government, out of these, the disbursement receieved from multilateral sources was $2.112 billion, whereas from bilateral sources it stood at $1.977 billion.

During the period under review, the borrowings from foreign commercial banks were $4.098 billion and State Administration of Foreign Exchange deposits from China were $2 billion. The report said these finances were helpful in financing the development projects, repay outstanding external loans, improve balance of payments position and provide budgetary support.

As per the performance report, during FY2018-19, the incumbent government repaid $9.101 billion to international development partners and foreign commercial banks on account of principal repayments ($ 7.047 billion) and debt servicing ($2.055 billion).

The external inflows facilitated the government to discharge its debt obligations, the report

said and added that the government recovered Rs239.158 billion foreign loans lent to provincial governments and autonomous bodies and as a result of recovery the receipts of the government increased.

According to the report, the Economic Affairs Division (EAD) has launched a project on Strengthening of External Debt Management in EAD with the support of World Bank under the Pakistan Debt Management Support Programme.

The project aims to ensure sustainability of the public and publicly guaranteed external debt data statistics and reporting and implementation of United Nation Commission for Trade and Development backed latest version (6.0) of Debt Management and Financial Analysis System.

During the year, the report said, the government signed $3.419 billion worth of new loan

agreements with Asian Development Bank, World Bank, Islamic Development Bank, Korea, and France. In addition, $833 million worth of new grant agreements were also signed with various multilateral and bilateral development partners, the report added.