Monday, September 26, 2022

Pakistan likely to get additional $2.57 billion in loans, says IMF

The International Monetary Fund (IMF) provided an estimate about the additional loans for Pakistan throughout the course of this year. It has anticipated to accumulate an additional 2.57 billion dollars in external debt for the country. This information included within the body of the report that has made public by the IMF in relation to Pakistan.

According to the IMF report, Pakistan will require additional loans in the amount of 30billion 75million dollars during the current fiscal year. The country has access to external financing in the amount of 33 billion 33 million dollars.

Pakistan is likely to receive commercial loans in the amount of 16 billion 61 million dollars. Whereas, 14 billion 39 million dollars will receive from institutions other than the IMF.

There is a chance that Pakistan will roll over its short-term debt in the amount of 12 billion 83 million dollars. There is also a chance that Pakistan will get foreign direct investment up to 2 billion 16 million dollars.

In addition, the report from the IMF predicts that the country’s foreign currency reserves will get to 16 billion and 20 million dollars this year. However, the country’s current account deficit has estimated to be 9 billion and 28 billion dollars for the current year.

Moreover, total exports will amount to 35 billion 900 million dollars and total imports will amount to 68 billion 75 million dollars. Therefore, the trade imbalance has anticipated to reach 32 billion 85 million dollars.

Read Also: Investors are deeply disappointed by the decline in the stock market last week

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