$23b in foreign borrowing planned

Pakistan has planned to borrow a minimum of $23 billion in the next fiscal year, including the rollover of a bilateral debt of $12 billion, to finance its swelling development plan and meet the nation’s external financing requirement. Budget documents for fiscal year 2024-25 showed that Pakistan would borrow at least $23.2 billion, or Rs5.9 trillion, which did not include any loan from the International Monetary Fund (IMF). The IMF’s loan will be for balance of payments support. Out of the borrowing of $23 billion, the government has included $20 billion in budget documents. It has not made the rollover of $3 billion by the United Arab Emirates (UAE) part of federal books as it is also meant for balance of payments support.