Pakistan needs $25b loans this FY: IMF
Lender doesn’t agree with growth, CAD projectionsShahbaz RanaNovember 18, 2023
ISLAMABAD: Summarized read full article link below
Foreign loan requirements to $25 billion for this fiscal year -- reducing it by $3.4 billion
lowered the economic growth projection 2%,
Inflation projection for the country 22.8%
IMF refused finance ministry’s projections current account deficit (CAD), imports, economic growth, inflation and gross financing requirements.
The IMF remained successful in acquiring a date for the general elections and in return ignored a few critical areas
IMF lowered foreign loan requirements $25 billion
Four months, the government borrowed $6 billion while it expects rollovers of $12.5 billion.
Needs are about $6.5 billion $12.5 billion debt rollovers.
IMF did not agree to Pakistan’s projection of $4 billion to $4.5 billion CAD during this fiscal year against the earlier projected figure of $6.5 billion.
IMF had now projected a deficit of $5.7 billion
IMF did not accept projection of imports worth $54.5 billion The lender has now estimated it at $58.4 billion,
reduction in the projected remittances. 3.5 billion
Available financing of $26.6 billion, depicting a lack of interest by the global markets and foreign commercial banks in giving fresh loans to Pakistan
Total lending to Pakistan has reached $6 billion in four months, including the money received from the UAE and IMF.
IMF reduced its economic growth projection for Pakistan to 2%
Forecast for June next year has been slightly increased to 16.5% for this fiscal year
increase in electricity and gas prices may overturn these projections.
Pakistan needs $25b loans this FY: IMF | The Express Tribune
Lender doesn’t agree with growth, CAD projections
