Pakistan governments took foreign loans worth $25.59 billions in last four years

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Pakistan governments took foreign loans worth $25.59 billions in last four years

ISLAMABAD: Pakistan governments took foreign loans worth $25.59 billions in last four years.

The Senate was informed on Friday that the country obtained US$25.59 billion worth of loans from global lending institutions during a period between July 2015 and July 2019.

The Ministry of Finance link informed the upper house of parliament that of the total public debt, 11.79 billion dollars were obtained from international financial institutions while 13.80 billion dollars from global commercial banks.

It said the country’s net foreign reserves stand at over 18.8 billion dollars.

Last year in July, the Economic Affairs Division in a statement link had said the net addition to external public debt during fiscal year 2018-19 was only $2.29 billion, which is the lowest in the last three years.

The total external inflows during FY 2018-19 were $10.186 billion, including grants of $330 million, while external loans obtained by the government during the year were $9.85 billion with the government making payment of $8.94 billion on account of retirement of external debt and debt servicing.