SBP reserves rise by $918m
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KARACHI: Reserves held by the State Bank of Pakistan jumped by a net $918 million to $8.001 billion during the week ended on July 12.
The increase came on the back of first tranche of $991.4m received from the International Monetary Fund. Meanwhile, holdings of commercial banks amounted to $7.248bn whereas total liquid reserves of the country stood at $15.249bn during the period under review.
Published in Dawn, July 19th, 2019
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Comments (7) Closed
Jul 19, 2019 09:20am
IMF first installment is $991m but increase is only $918m which means Pak already lost $73m reserves.
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Jul 19, 2019 10:31am
Congratulations! IMF funds are finally here. Now the people have more dollars to buy and import fruits and dog food and dates and cars and phones and purses and shoes and make up for women.
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Jul 19, 2019 11:25am
A very good news. Now, ADB, World Bank and other countries should also lend.
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Jul 19, 2019 06:31pm
Please ensure that this balance stays secured towards payments only for essential items vital for the country only. No extravagant imports of consumer goods. Import substitution for all consumer goods MUST begin ASAP. Fiscal and monetary discipline must be maintained at every single level. Ask yourself "Why" five times before any expenditure involving such foreign currency is required. Full transparency must be maintained to ensure wise usage of critical funds. Once the global financial community sees this conservative behavior, they will feel more comfortable in dealing with Pakistan.
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Jul 19, 2019 07:02pm
When you going to pay the penalty of 6bn
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Jul 20, 2019 01:53pm
Pakistan also received 500 milion dollars from Quatar. Where did that money go??
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Jul 20, 2019 05:40pm
Bangladesh Reserves $33bn.
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