Pakistan borrowed US 2.3 billion in first half of Fiscal Year 2019: Economic Affairs Division

ISLAMABAD – The Pakistan Tehreek e Insaaf (PTI) led Federal Government in Pakistan has borrowed US$2.3 billion in the first half of the current fiscal year (FY), according to the Economic Affairs Division. During the July-December period of the fiscal year 2018-19, the government borrowed US$836 million from China, and US$500 million from commercial banks, the Economic Affairs Division said. The government also took out US$339 million in loans from the Asian Development Bank, and US$272 million from the Islamic Development Bank. During the same period in 2017, borrowing stood at $5.9 billion from external resources.