Pakistan Struggles to Attract Foreign Loans Amid Economic Troubles
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Pakistan received only $3.85 billion in foreign loans in July-Oct, far below the $17.6 billion annual target, amid poor credit rating.
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Inflows were down 10% from $4.26 billion in same period last year. Finance ministry now expects $3.5 billion in commercial loans.
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Pakistan deferred $1.5 billion Eurobond plan due to high interest rates and low credit rating. Will repay existing $1 billion bond.
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Total inflows were $6.05 billion including IMF and UAE funds. Saudi Arabia provided biggest loan of $2.4 billion.
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Multilateral lenders disbursed $598 million, led by World Bank's $371 million. Overseas Pakistanis provided $306 million.