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April 21, 2021

External inflows grow

Top Story

April 21, 2021

ISLAMABAD: Pakistan has received total external inflows worth $7.413 billion as loans and grants during the first nine months (July-March) of the current fiscal year 2020-21 against $6.73 billion in the same period of last financial year.

Pakistan has budgeted total external inflows of $12.233 billion for the whole financial year and the government will have to accelerate the process of receiving dollar inflows in order to achieve the set goals. According to provisional data of external inflows available with The News, Pakistan continued to rely heavily on foreign commercial borrowings as it stood at $3.119 billion in first nine months of the current fiscal year out of total external inflows of $7.4 billion. The external inflows stood at just $204 million in March 2021.

China remained the largest bilateral donor so far in the current fiscal year. The bilateral donors have disbursed $358.25 million during July-March period of the current fiscal year out of which China provided $147.52 million, France $34.88 million, Germany $15.36 million, Japan $15.56 million, Korea $3.69 million, Kuwait $6.03 million, Oman $0.31 million, Saudi Arabia $0.70 million, UK $47.99 million and USA $86.21 million. In March 2021, the bilateral donors disbursed $85.47 million.

Out of total commercial borrowings of $3.119 billion so far, Ajman Bank PJSC provided commercial loan of $34.6 million, Dubai Bank $815.1 million, Emirates NBD $370 million, ICBC-China $1.3 billion, SCB (London) $400 million and consortium of Sussie AG, UBL and ABL $200 million during July-March period of the current fiscal year.

The multilateral creditors have disbursed total amount of $2.935 billion during the first nine months (July-March) period of the current fiscal year. The Asian Development Bank and World Bank remained the major lenders so far in the current fiscal year. The ADB has so far disbursed total lending amount of $1.247 billion in first nine months of the current fiscal year. The Asian Infrastructure Investment Bank (AIIB) has disbursed $252.11 million in July-March period of the current fiscal year. The European Union has provided $2.67 million.

The World Bank’s IBRD lending stood at $377.43 million during the first nine months of the current fiscal year while WB’s IDA lending disbursement remained at $560.2 million. The Islamic Development Bank disbursed $22 million so far in the current fiscal year. The IDB (ST) disbursement stood at $439.4 million. The IFAD disbursed $33.39 million. The SAFE deposit amount stood at $1 billion. Pakistan received a total grant of $189 million during the first nine months (July-March) period of the current fiscal year. All the external inflows totals to $7.413 billion in shape of loans and grants in first nine months of the current fiscal year.