According to the State Bank of Pakistan's latest data, the government borrowed
Rs1,073 billion during July-April (up to Apr26) as against Rs850bn in corresponding period last year, representing an increase of Rs223bn or 26.2pc.
class="MsoNormalspan xml:lang="EN-GBRepaying on time meant building a good credit history ndash I could borrow
bigger loans on lower rates.
Also high on the list was Swansea City and County Council which borrowed
PS203.6m as well as Wrexham County Borough Council which borrowed
$320 million were borrowed
from commercial banks, $230 million from China and $70 million from Islamic Development Bank.
DR Titus Okunronmu, a former Director, Budgetary Department, Central Bank of Nigeria (CBN) has advised the Federal Government to use borrowed
funds strictly for building capital projects.
For the succeeding years, Briones said the government's plans and programs have been 'already laid out' and the government has to borrow
money if the remaining Train package is not passed.
I presume there are enough mechanisms to avert over-borrowing similar to what happened to retired soldiers and policemen enticed to borrow
by the numerous savings and loan associations with access to automatic pension deduction schemes.
He noted that currently, out of the seven borrow
pits under jurisdiction of the contractor, only five had been opened and operational.
The government will borrow
Rs3.45tr through market treasury bills (MTBs) and Rs300 billion through Pakistan Investment Bonds (PIBs) in the three-month period.
It affirmed that since the annual meetings in October 2016, "further progress has been made in securing commitments to provide bilateral borrowed
resources under the IMF's 2016 borrowing framework." Commenting on this, IMF Managing Director Christine Lagarde said "I am encouraged by the commitments received from the membership to provide bilateral resources under the new borrowing framework." She added that bilateral borrowing constitutes the Fund's "important third line of defense after quotas and the New Arrangements to Borrow
(NAB)." "These commitments will preserve the overall lending capacity of the IMF and provide confidence that the Fund will continue to be able to address the needs of our membership," she affirmed.
"There is no panic exodus or lock down in borrowing but, as many of the decisions to borrow
could well have been made before the Brexit vote, we really should look for longer term trends before we can draw any conclusions."
Summary: In its recently published report titled "MENA Sovereign Debt Report 2016: Borrowing increased sharply in 2015 and is expected to remain elevated in 2016," Standard & Poor's (S&P) Ratings Services projects that the 13 MENA sovereigns that it rates will borrow
an equivalent of US$ 134 billion from long-term commercial sources in 2016.