ISLAMABAD According to The News on Wednesday, the incumbent government of Prime Minister Shehbaz Sharif has obtained $1.72 billion in foreign loans from both bilateral and multilateral creditors in the first four months (July-October) of the current fiscal year in an effort to address the numerous economic issues facing the cash-strapped nation.
Even if there haven’t been any foreign bond issuances or deposit rollovers thus far, the government’s borrowing figures are still present.
After much work, Islamabad was able to have the $7 billion Extended Fund Facility (EFF) approved by the International Monetary Fund (IMF) Executive Board in September.
The IMF’s $1 billion tranche is not included in the aforementioned loan statistics; if it were, the total amount of foreign loans for the period would be $2.72 billion.
