Debt inflows plunge 55pc in July-October

Pakistan’s foreign assistance inflows fell by more than 55 per cent to about $2.7 billion in the first four months (July-October) of the current fiscal year, apparently because of delays in securing a bailout from the International Monetary Fund (IMF) and subsequent $1bn disbursements. Last year, inflows had amounted to $6.05bn in these four months. In its monthly report on Foreign Economic Assistance (FEA) released on Monday, the Economic Affairs Division (EAD) said against its annual target of $19.4bn, total FEA in July-October amounted to $1.72bn when compared to $3.85bn of the same period last year with the annual target of $17.6bn. This total doesn’t include about $1bn disbursed by the IMF on the last day of September, which is accounted for separately by the State Bank of Pakistan, thus putting the total inflows at $2.72bn.