Author: Erdal Hingora

ISLAMABAD: Amid external account challenges, Pakistan borrowed about $5.115 billion in foreign loans in the first five months (July-November) of the current fiscal year, almost 14pc higher than the foreign loans it received in the comparable period last year. In its monthly report on Foreign Economic Assistance (FEA), the Ministry of Economic Affairs (MEA) said it received about $5.115bn foreign assistance in 5MFY23 compared to $4.499bn in the same period last year. In November alone, Pakistan received $842 million from foreign inflows compared to $794m in the same month last year, a rise of 6pc. As such, the total inflows…