Latest news with #NayaPakistanCertificates
Express Tribune
23-05-2025
- Business
- Express Tribune
In 10 months, Pakistan gets $6b in loans, grants
Pakistan faces over $8 billion in external debt maturities in FY25 (excluding $13 billion in routinely rolled-over bilateral loans) and any delay in debt rollovers can put the IMF programme at risk. photo: file In the first ten months of the fiscal year 2024-25 (July to April), Pakistan received over $6 billion in foreign loans and grants. However, the total external inflows reach $14.1 billion, when IMF funding and rollovers from friendly countries are included. The annual target for external financial assistance is $19.39 billion, according to data released by the Economic Affairs Division. Sources said the $2.1 billion received from the IMF is in addition to other inflows. Saudi Arabia, the UAE, and China rolled over deposits worth $6 billion during the period. From July to April, Pakistan received $2.97 billion from international financial institutions. Countries including China and the United States provided an additional $370 million in bilateral loans. The country also secured $760 million in foreign commercial loans. According to documents, Pakistan raised $1.61 billion through the Naya Pakistan Certificates. Over $3 billion was received as budgetary support, while $2.63 billion was directed towards development projects.
Business Recorder
15-05-2025
- Business
- Business Recorder
RDA inflows down 25%, clock in at $177mn in April 2025
Inflows through the Roshan Digital Account (RDA) clocked in at $177 million in April, reflecting a decline of 25% compared to $235 million in March 2025, the State Bank of Pakistan (SBP) said Thursday. Out of the total April inflows, $24 million has so far been repatriated, while funds to the tune of $159 million have been utilised locally. The central bank shared that the total number of RDA accounts opened reached 814,244 from 805,442 a month ago at March-end, showing a month-on-month increase of 8,802 accounts. As per the latest data available on the SBP's website, the cumulative RDA inflow clocked in at $10.18 billion by the end of the previous month, out of which $1.757 billion has so far been repatriated, while funds to the tune of $6.527 billion have been utilised locally. Consequently, total net repatriable liability stands at $1.897 billion as of April-end. Out of the total outstanding liability, an amount of $1,356 million is with Naya Pakistan Certificates, with $456 million in conventional NPCs and $900 million in Islamic instruments. Similarly, an amount of $444 million is 'balances in accounts', the SBP data showed. Meanwhile, Roshan Equity Investments declined monthly and stood at $58 million, registering a monthly decline of 6%. Background RDA is a significant source of foreign exchange inflows for Pakistan, which is grappling with liquidity challenges. The initiative was launched in September 2020 by the SBP and offers up to 8% profit on US dollar investments.
Express Tribune
21-03-2025
- Business
- Express Tribune
Pakistan receives $4.9b in eight months
Nearly 87% of foreign loans were for budget financing and building foreign exchange reserves, which meant that these had not been utilised for creating assets. PHOTO: FILE Pakistan received a total of $4.9 billion from foreign sources during the first eight months of the current fiscal year (July to February), while $2.4 billion was received from aid agencies during the same period, according to officials from the Economic Affairs Division. As per details of foreign aid and loans, Pakistan had set a target of obtaining $19.2 billion from external sources for the fiscal year (July to June). However, from July to February, the country received $4.9 billion in foreign assistance. Officials further stated that from July to February $330 million was borrowed from donor countries with France providing the highest amount of $100 million. China contributed $99 million; the United States provided $40 million and Saudi Arabia extended $12.3 million. $500 million was borrowed from commercial banks and $1.3 billion was obtained through Naya Pakistan Certificates. The Asian Development Bank (ADB) provided $1.09 billion; the World Bank extended a loan of $890 million while Chinese banks collectively provided $300 million in loans.
