Government borrowed $2.234 billion from financing sources, Economic Affairs Division Data

During the first quarter (July – September) of the ongoing financial year, the government borrowed $2.234 billion from financing sources including $1.166 billion from the International Monetary Fund (IMF).

The amount borrowed during the same quarter of the previous fiscal year was $3.204 billion. However, the loans from commercial banks could not be borrowed compared with $457.54 million during the same period of the last financial year.

Economic Affairs Division Data (EAD) has also shown that external loans amounting to $625.85 million were procured in September this year compared to $826.41 million during the same month of the last fiscal year.

Foreign assistance of $22.8 billion has been budgeted for the current fiscal year including $7.5 billion for foreign commercial banks, $22.655 billion in loans, and $161.46 million in grants. The data has also shown that $682.30 million were received from multilateral and $385.99 million from bilateral and $1.166 billion from IMF during the first quarter of this year; while the non-project aid has been $1.834 billion including $1.323 billion for budgetary support and $488.46 million for project aid.

During the first quarter, $54.93 million had been disbursed by China while the government had budgeted estimates of $49.02 million. $300 million were disbursed by Saudi Arabia against the budgeted $800 million.

The USA has disbursed $9.95 million against the $32.49 million budgeted for the current fiscal year. Korea has disbursed $15.65 million and France has disbursed $4.44 million during the first quarter of the ongoing fiscal year.

The Asian Development Bank (ADB) has disbursed $112.73 million. The IDA was $416.49 million, IBRD $28.90 million and Islamic Development Bank disbursed $11.50 million.

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