Pakistan fears about Economic Crisis.
It seems that Pakistan is currently facing various hurdles to grip its economy. This situation is getting horrible due to Pakistan’s steps. The country took a foreign loan of 13.033 billion US dollars from various financial sources including 2.623 billion US dollars from foreign commercial banks. All of this loan is taken during the first 10 months of the fiscal year 2021-22.
According to the data of the Economic Affairs Division (EAD) which was released on Monday, a heavy sum of 262.14 million US dollars was acquired by Pakistan from several financing sources during April 2022. According to the Business Recorder report, during April no loan is taken from foreign commercial banks.
According to the reports, 10.195 billion US dollars including 3.246 billion US dollars from foreign commercial banks were received from July-April 2021-22. This total sum of 10.195 billion US dollars is against the budgeted amount of 12.233 billion US dollars.
The government of Pakistan is expecting foreign assistance of around 14.088 billion US dollars for the current fiscal year. This amount includes 13.871 billion US dollars in the form of loans while 0.217 billion US dollars as a subsidy from the IMF.