Pakistan's borrowing drops 38% in July-November

Pakistan borrowed $2.667 billion from various sources in the first five months of the fiscal year 2025, marking a 38% decrease from the $4.285 billion borrowed during the same period last year.

Including the International Monetary Fund's $1.03 billion tranche, total inflows reached $3.697 billion.

Pakistan is scheduled to receive a second $1.1 billion IMF tranche in March 2025.

The Washington-based global lender previously estimated a total $5 billion external financing gap for the 2024-2027 period, with $2.5 billion estimated for this fiscal year.

According to data issued by Economic Affairs Division, total multilateral receipts during this period stood at $1.46 billion, compared with $787 million borrowed in the same period last year. The Asian Development Bank contributed $768 million, the World Bank’s International Development Association provided $305 million, the Islamic Development Bank gave $119 million, and the International Bank for Reconstruction and Development contributed $110 million as major lenders.

Total bilateral funding in July-November of this year amounted to $269 million, compared with $583 million in the same period last year. Major sources of bilateral funding included $98 million from China, $89 million from France, and $38 million from the United States.