The International Monetary Fund (IMF) has projected Pakistan’s gross external financing needs at $28.361 billion for the fiscal year 2023-24, which is eight per cent of the GDP. In its report titled “Country Report, Request For A Stand-By Arrangement,” the IMF noted that the country’s external financing need would be $30.4 billion in the fiscal year 2024-25.
The Fund stated that the SBA programme is fully financed but with exceptionally high risks. Financing commitments from bilateral and multilateral partners will help cover public gross external financing needs in the fiscal year 2024, and the reserve position at the end-fiscal year 2024 is consistent with programme objectives.
Bilateral creditors are expected to maintain their exposure to Pakistan in line with program commitments, and there are commitments for $3.7 billion of additional financing expected from Saudi Arabia and the UAE. These commitments from multilateral institutions, including the Islamic Development Bank and other pledges at the Geneva conference, provide the necessary financing assurances.
