Pakistan receives $2.89 billion from abroad in a month

Islamabad: After signing a new loan agreement with the International Monetary Fund (IMF), external funds received by Pakistan have increased significantly.

According to the monthly report on external financial assistance, loans and assistance of $2.89 billion 89 dollars were received from abroad in the month of July alone, which is 2.70 billion dollars more than the same period of previous year.

According to the Economic Affairs Division, an external loan of 2.876 billion dollars was received in July, during which an external grant of 144.20 million dollars was received.

Saudi Arabia deposited $2 billion, moreover $100 million was received from Saudi Arabia for oil facilities, while Pakistan received $193.6 million from various international organizations, the report told.

A total of more than 113.8 million dollars were received from different countries. IMF provided 1.2 billion dollars and UAE granted 1 billion dollars.

After the restoration of IMF program, Pakistan has received $5 billion so far. More than $2.9 billion has been received, including $2.9 billion in budget support.

According to the Economic Affairs Division, Pakistan is likely to receive more than $17.61 billion in external loans and aid this fiscal year.