Pakistan’s foreign financing inflows have witnessed a remarkable surge,surging over sixfold to reach an impressive $5.41 billion during the firsttwo months of the current fiscal year, which encompasses the period of Julyand August. This substantial increase represents a stark contrast to themeager $439 million recorded during the corresponding period in theprevious year. The main driving force behind this substantial boost can beattributed to the stimulus provided by the International Monetary Fund(IMF).
The Economic Affairs Division (EAD) recently disclosed this financialtransformation in its monthly report on Foreign Economic Assistance (FEA).According to the report, the total foreign economic assistance during Julyand August tallied an impressive $3.2 billion.
This represents an astounding increase of 630 percent when compared to thesame timeframe in the prior year, underscoring the significant strides thatPakistan has made in attracting foreign financial support.
August’s foreign financing inflow registered at $316 million, while thelion’s share of assistance, a whopping $2.89 billion, arrived in July. It’simportant to note that this financial windfall isn’t solely attributed tothe IMF’s actions. In addition to the IMF’s release of $1.2 billion as thefirst tranche of the $3 billion Standby Arrangement, the United ArabEmirates (UAE) contributed an additional $1 billion, which was separatelyaccounted for by the State Bank of Pakistan.
Read Top Stories
These combined efforts have clearly propelled Pakistan’s foreign financinginflows to new heights, promising potential economic stability and growth.
