Country receives foreign inflows of over $3.5 billion in FY14 March 10, 2014 TAHIR AMIN0 CommentsE-mailPrintPDF The country has received foreign inflows of over $3.5 billion including disbursement from Coalition Support Fund (CSF), IMF releases under the Extended Fund Facility (EFF), grants and loans from multilateral and bilateral donors in the current fiscal 2013-14, it is learnt. The country received $674 million under the head of Coalition Support Fund (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 that Pakistan incurred for the period from July, 2012 to September, 2012 and October, 2012 to January, 2013. For the current fiscal year, Pakistan has budgeted $1.54 billion on account of the CSF disbursements. The money that the country spends on defence and logistics while rendering services in global war against terrorism is later on disbursed by the US under the CSF. The country has received two tranches amounting to $1.09 billion from International Monetary Fund (IMF) under the 4 September approved $6.64 billion Extended Fund Facility in the current fiscal year 2013-14. The country is expecting to get another tranche of $550 million in the current month from the Fund, which would help the government in its efforts to boost foreign exchange reserves, official sources revealed to Business Recorder. Pakistan received foreign inflows of over $1.66 billion in the current fiscal year 2013-14 out of the 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 [S-Term] 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, USA released $67.42 million to date in the current fiscal year, Saudi Arabia disbursed $44.12 million in the current year, Organisation of the Petroleum Exporting Countries (OPEC) disbursed $14.88 million in the current financial year and Japan released a total of $42.65 million in the current fiscal year so far.
Posted on: Mon, 10 Mar 2014 02:58:43 +0000