During the preceding fiscal year (2020-21), the government received $15.32 billion in fresh foreign loans from multilateral institutions and commercial banks, up over 47% from $10.45 billion the year before.
According to the Ministry of Economic Affairs’ ‘Annual Report on Foreign Economic Assistance 2020-21,’ the existing government contracted a total of $34.17 billion in its first three years in office with these extra loan arrangements. During the three years, total foreign loan disbursements were relatively higher at $35.1 billion.
According to the report, Pakistan lost $8.41 billion in the fiscal year 2018-19, followed by $10.45 billion in 2019-20 (up 24 percent), and $15.32 billion in 2020-21. (up 47pc).
As a result, Pakistan’s external public debt was $85.6 billion as of June 30, 2021, up from $77.9 billion as of June 30, 2020, a net rise of around $7.7 billion (10 percent). By the end of June 2019, the external public debt had reached $1.2 trillion.
