Govt gets only $9.2b in foreign loans | The Express Tribune

ISLAMABAD: Pakistan received a little over $9 billion in foreign loans during the first seven months of the current fiscal year, an amount that was barely enough to meet its financing needs and could not take foreign exchange reserves into double digits. The Economic Affairs Division on Friday reported the latest disbursement figures for July-January […]

RELIEF: Joe Biden writes off $5 billion in student loans owed by 74,000 borrowers

Joe Biden speaks during a campaign on October 9, 2019. — AFP President Joe Biden on Friday wiped out $4.9 billion in debt for 74,000 student borrowers — a strategic move aimed at propelling young and minority voters for his reelection. The Public Service Loan Forgiveness programme and income-driven repayment options for long-term borrowers are […]

$6.4b in loans received in 5 months | The Express Tribune

ISLAMABAD: Pakistan secured $6.4 billion in foreign loans during the first five months of the current fiscal year, which was equal to one-fourth of the revised annual requirement, amid hopes for a surge in disbursement in the coming weeks on the back of some “bullet borrowing”. The Economic Affairs Division (EAD) reported on Monday that […]

Pakistan needs $25b loans this FY: IMF | The Express Tribune

ISLAMABAD: The International Monetary Fund (IMF) has revised Pakistan’s foreign loan requirements to $25 billion for this fiscal year — reducing it by $3.4 billion — and also lowered the economic growth projection to just 2%, turning down the government’s external as well as macroeconomic forecasts. Finance ministry sources said the IMF had also lowered […]

China has rolled over $2.4b loans for two years: Dar | The Express Tribune

Finance Minister Ishaq Dar said on Thursday that China’s Export-Import (Exim) Bank rolled over $2.4 billion in loan payments for the next two years. “Chinese EXIM Bank has rolled over for 2 years principal amounts of following loans totalling US$ 2.4 billion which are due in next 2 fiscal years,” he announced in a tweet. Chinese […]

Pakistan seeks fast-track refinancing of $1.3b loans | The Express Tribune

ISLAMABAD: Pakistan on Monday requested China to fast-track the refinancing of maturing commercial loans of $1.3 billion and apprised it of the diminishing prospects of revival of the International Monetary Fund (IMF) loan programme. The request was made by Finance Minister Ishaq Dar during a meeting with China’s Charge d’affaires Pang Chunxue at the Finance […]

Govt struggles to secure loans from global lenders | The Express Tribune

ISLAMABAD: The government faced difficulties in obtaining funds from international partners and lenders during first three quarters of the current financial year mainly because of unresolved issues with the International Monetary Fund (IMF), sources said on Friday. According to statistics issued by the Economic Affairs Division, the country received foreign loans worth $7.76 billion during […]

Banks gave $3b concessionary loans during PTI rule | The Express Tribune

ISLAMABAD: An official of the central bank on Thursday revealed to a parliamentary committee that commercial banks issued around $3billion worth of loans to over 600 businessmen at zero markup rate during the rule of the Pakistan Tehreek-e-Insaf (PTI). “Banks offered these loans at concessionary rates during the pandemic,” the State Bank of Pakistan (SBP) […]

Loans required urgently to avert public debt crisis: WB | The Express Tribune

ISLAMABAD: The World Bank, on Tuesday, said that various economic shocks pushed nearly four million Pakistanis into poverty this fiscal year. The lender also urged Islamabad to immediately arrange fresh foreign loans to avert a “public debt crisis”. The Pakistan Development Update – a flagship report from the lender, has warned Pakistan about serious dangers […]

PM says tapping friendly nations for more loans ’embarrassed’ him

Prime Minister Shehbaz Sharif speaks during his address at the passing out ceremony of 45th Specialised Training Program of PAS in Lahore.. — Twitter/@GovtofPakistan LAHORE: Prime Minister Shehbaz Sharif Saturday spoke about feeling embarrassed while seeking funds and loans from friendly countries during his recent visits across various nations since the flooding in the summer […]

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