Imran govt admits obtaining $10 billion loan within over a year

The Prime Minister (PM) Imran Khan-led government has admitted to have obtained a total of $10.37 billion debt from different countries and international lenders up until September 30, this year.

In a written reply to a question in the National Assembly, Minister for Economic Affairs Hammad Azhar said the Pakistan Tehreek-e-Insadf (PTI) government secured $10.37 billion from various governments and international institutions from August 14, 2018 to September 30, 2019.

The government, during this period, received $1.54 billion from China, $151.79 million from Saudi Arabia, $68.6 million from France, $0.4 million from Germany, $62.48 million from Japan and $0.01 million from Kuwait.

It also obtained a total of $991.2 million loan so far from International Monetary Fund (IMF) during this period.

The government received a total $2.751 billion from multilaterals including $997.45 million from Asian Development Bank (ADB), $23 million from Asian Infrastructure Investment Bank (AIIB), $155.04 million from International Bank for Reconstruction and Development (IBRD), $556.05 million from International Development Association (IDA), $6.14 million form Islamic Development Bank (IDB), $922.84 million from IDB (short terms), $42.24 million from International Fund for Agricultural Development (IFAD), $8.36 million from Organisation of Petroleum Exporting Countries (OPEC Fund), and $39.8 million form ECOT/BANK.

The government obtained $4.805 billion loan from commercial banks including $365 million from Ajman Bank, $2.235 billion from Consortium of Chinese banks (ICBC, CDB, BOC), $150 million from Citibank, $410 million from DIB/Noor, $195 million from DIB, $500 million from Emirates NBD, $300 million from ICBD and $650 million from Credit Suisse.