KARACHI: Reserves held by the State Bank of Pakistan (SBP) plunged by $1.028 billion to $9.244bn during the week ended on April 12.
The decrease in dollar stock came amid external debt servicing, including principal repayment of $1bn against Pakistan Sovereign Bond, said a press release from SBP.
Meanwhile, holdings of the commercial banks stood at $6.952bn while total liquid reserves of the country amounted to $16.2bn during the period under review.
Published in Dawn, April 19th, 2019
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Comments (12) Closed
Prateik
Apr 19, 2019 08:55am
KSA and UAE loans worth $6.2 billion are deposits which can't be encashed.
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zunaid, India
Apr 19, 2019 09:34am
point is, even if Pakistan gets imf loan, its reserve will again fall to 6-7 billion usd in an year. So, what's next?
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arul
Apr 19, 2019 10:19am
china lent 2b in july 2018 and again 2.3 in march 2019, suadi arabia 3 b and uae 2 billion. also added is some unknown amount in oil deferred payment. total more than 9.3 billion. official reserve is 9.2 billion. it is called bankrupt. asad umar as escaped from the scene to face the situation. imf wont lent until they have been shown cpec records plus devaluation of rupee and fatf word in september. FI has been slashed 80 percent by investors including chinese. march current account defecit has again shoot up. situation is totally grim. still ik is whinning and spending on social programmes. it is always better to have a capable person than an would be honest person.
next move is changing of captain itself
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Irfan Khan
Apr 19, 2019 11:21am
Only long term solution for Pakistan is just a free trade..
Pakistan to India & India to Pakistan.
MFN status to be given by both countries under ILO.
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Sultan
Apr 19, 2019 12:36pm
@zunaid, India, getting defaulter.
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Footballer
Apr 19, 2019 12:46pm
All economic experts from customer support services are requested to refrain from commenting on the economic matters of Pakistan. Please do your job diligently and provide the required support to your customers.
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RationalBabu
Apr 19, 2019 01:13pm
@Sultan, India has never defaulted!
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Zak
Apr 19, 2019 01:57pm
I think if situation continues then qureshi will be the next pm soon.
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Janata Darbar
Apr 19, 2019 05:18pm
What country got spending on K . Resolve the issue and spend less on arms.
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Dr. Faazil Ahmed
Apr 19, 2019 11:14pm
This was expected. Now that Asad sahab has washed off his hands, he will move his base to Canada and make us people face the music of hyper-inflation.
Kudos
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LogicalMan
Apr 19, 2019 11:41pm
@Footballer, If bus drivers, semi literate sweepers and even drug peddlers can comment surely customer support guys can comment.
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Danish
Apr 20, 2019 12:25am
Not true. Pakistan has enough reserve for 5 years to run Pti Gov.
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