ISLAMABAD: The Economic Affairs Division Friday rejected media reports that the country witnessed a 45 percent increase in its foreign loans over the last five months. In a statement, the Economic Affairs Division said, “Media reports regarding 45 percent increase in foreign loans in 5-months period are completely incorrect and misleading.” Explaining key facts, the Economic Affairs Division said the government received gross external inflows of US$4.5 billion during the first five months of the current fiscal year (July-November 2020) as against the annual budgeted estimate of US$ 14.37 billion. During this period, it said the government paid back US $ 2.9 billion on account of external public debt and its servicing. “Thus, net inflow was US $1.6 billion,” it added. TLTP
