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Foreign inflows stand at $3.5b so far in FY14

Foreign inflows stand at $3.5b so far in FY14

ISLAMABAD: Pakistan has received foreign inflows to the tune of over $3.5 billion including disbursement under the Coalition Support Fund (CSF), IMF tranches under the Extended Fund Facility (EFF), grants and loans from multilateral and bilateral donors so far in the current fiscal 2013-14.

As per details, the country received $674 million under the head of CSF against the budgeted inflow of $1.54 billion: one tranche of $322 million in October 2013 and another of $352 million in February 2014. The releases were on account of expenses incurred by Pakistan for the period from July, 2012 to September, 2012 and October, 2012 to January, 2013.

Similarly, Pakistan has received two tranches amounting to $1.09 billion from the IMF under the $6.64 billion Extended Fund Facility in the current fiscal year 2013-14. The country anticipates another tranche of $550 million in the current month from the IMF, which is expected to help the government to boost foreign exchange reserves.

Moreover, the country received foreign inflows of over $1.66 billion in the current fiscal year 2013-14 out of total budgeted foreign assistance of $5.74 billion from bilateral and multilateral donors. The government budgeted foreign assistance of $5.74 billion in 2013-14 including grants of $651.12 million and loans of $5.09 billion. However it received only $1.66 billion in the first seven months.

China is expected to be the largest single donor with a budgeted inflow of $1.365 billion. The country has received a total of $216.20 million from China in the current fiscal year; Asian Development Bank (ADB) disbursed $269.58 million of the total budgeted $991.74 million. The IDB has released a total of $269.85 million in the current fiscal year, International Development Association (IDA) disbursed $173.78 million, International Bank for Reconstruction and Development (IBRD) released a total of $49.61 million, Islamic Development Bank (IDB) disbursed a total of $127.79 million, America released $67.42 million to-date, Saudi Arabia disbursed $44.12 million, Organisation of the Petroleum Exporting Countries (OPEC) disbursed $14.88 million and Japan has released $42.65 million in the current fiscal year so far.