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UNTIL June 1, 2021, the Senate will remain on break, following the announcement of the chairman of the National Assembly, Senator, Ahmed Lawan. The period

Despite the nation’s rising debt profile, the Senate, last week, approved the federal government’s request for another $1.5bn, €995m external loans, reports Udora Orizu On April 21, the Senate gave the federal government the nod to borrow a total of $2.7 billion out of the $5.5 billion external borrowing request sent to the National Assembly by President Muhammadu Buhari in May, 2020. Buhari had last May requested the Senate to approve the external borrowing to finance various priority projects of the federal government and to support the state governments facing fiscal challen...

Foreign borrowing soars to $6.7b Loans include $500m taken from China last month to support forex reserves Pakistan on Wednesday signed a new $1.1 billion loan agreement with the IDB for a trade financing facility. PHOTO: FILE ISLAMABAD: The government received $6.7 billion in gross foreign loans in the first seven months of current fiscal year, including a new commercial loan of $500 million from China last month, which helped Islamabad keep its gross official foreign exchange reserves at current levels. During the July-January period of fiscal year 2020-21, the government obtained $6.7 bil...

Pakistan gets $5.7b in foreign loans In December alone, government received $1.2 billion worth of loans Nearly 87% of foreign loans were for budget financing and building foreign exchange reserves, which meant that these had not been utilised for creating assets. PHOTO: FILE ISLAMABAD: The Pakistan Tehreek-e-Insaf (PTI) government received another $1.2 billion in foreign loans last month, taking new borrowing to $5.7 billion in the first half of current fiscal year but it again blamed the previous government for some of its own flawed policies. During July-December of fiscal year 2020-21, th...

  Masum Billah, Staff Correspondent,  bdnews24.com Published: 24 Dec 2020 09:50 AM BdST Updated: 25 Dec 2020 01:43 AM BdST Bangladesh had shown interest in joining the New Development Bank, or BRICS Bank, when it was coming into being in 2014 only for it to lean towards the China-sponsored Asian Infrastructure Investment Bank for funds. "); } Abul Maal Abdul Muhith, then the finance minister, had told bdnews24.com that the government had not been thinking much about BRICS Bank due to its sluggishness at the time and would consider joining it once it picked up speed. Six years on, Banglade...