Islamabad [Pakistan], December 24 (ANI): Pakistan has received around 4.6 billion US dollars in foreign loans during the first five months of the current fiscal year, taking its total loan inflows to about 40 billion US dollars since July 2018, local media reported on Friday.

Citing a monthly report on foreign assistance released by the country's Ministry of Economic Affairs (MEA) on Thursday, Dawn reported that Pakistan received about 4.699 billion US dollars inflows, including 4.575 billion US dollars in loans and about 123 million US dollars in grants.

Also Read | Bangladesh Ferry Fire: 40 People Dead After Fire Breaks Out Aboard Packed 3-Storey Barguna-Bound Ferry.

The newspaper further stated that the Pakistan government has a budgetary target to obtain about 14.1 billion US dollars in foreign loans and grants during the current fiscal year.

The total loans in five months included 2.93 billion US dollars for a programme or budgetary support (non-project aid) and 1.17 billion US dollars for projects.

Also Read | Antibody Drug Evusheld Can Fight Omicron Variant of COVID-19, Says AstraZeneca.

A few days back, Pakistan's MEA had reported that total disbursements of foreign assistance during fiscal year 2020-21 amounted to 13.547 billion US dollars, about 27 per cent higher than 10.7 billion US dollars in fiscal year 2019-20, as per Dawn.

Meanwhile, Pakistan's foreign currency reserves are depleting after the persistent stalemate over the renewal of the IMF package.

Pakistan's total foreign exchange reserves stood at USD 25.027 billion; the foreign reserves held by the SBP stood at over USD 18 billion and commercial banks USD 6.45 billion, reported Geo News. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)