Foreign loans of worth $1.5 billion received during 4 months

0
328

Pakistan received the foreign loan of worth $1.5 billion during the first four months of the current fiscal year.

Foreign loans of Pakistan increased by $1.5 billion during July-Oct FY19. According to ministry of finance officials, in the last 4 months, international creditors released $1.46 billion.

Last month, Pakistan also acquired the $160 million commercial loan from Dubai Islamic Bank on the short term facility. In addition, it was the 2nd commercial deal to be acquired in previous few months. However, the government earlier acquired the $170 million commercial loan form the syndicate led by Credit Suisse AG.

The increase in the London Interbank Offered Rate (Libor), the commercial loans are becoming expensive to obtain since a majority of them are contracted.

In July-October FY19, the $1.46 billion disbursements not reflect the $1 billion earlier this month received from Saudi Arabia.

LEAVE A REPLY

Please enter your comment!
Please enter your name here