Reserves held by the SBP decreased to $3.322 billion against $3.467 billion a week earlier. CRETAIVE COMMONS
Foreign exchange reserves held by the country decreased to $8.1684 billion during the week ending January 17, compared to $8.3 billion the previous week, according to data provided by the State Bank of Pakistan (SBP).
Reserves held by the SBP decreased to $3.322 billion against $3.467 billion a week earlier, while those held by commercial banks fell to $4.846 billion as compared to $4.849 billion a week earlier.
The decrease in SBP’s reserves is partly attributed to $59 million paid on account of external debt servicing and other official payments.
During the week, there was no significant inflow from multilateral and bilateral sources.
Pakistan made its last payment of $109 million to the IMF on December 30, 2013. Overseas Pakistanis remitted $5.275 billion between July-October this fiscal year.
Published in The Express Tribune, January 24th, 2014.
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COMMENTS (3)
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@Kolachi: who said Pakistan is growing at 5%? i think u did not knew IMF rejected these fig last week...its nawaz sharif's stunt to impress US to get more aids & Loans... Pakistan growning st 2% acco to IMF
@Dhaka: Bangladesh is going great guns. Pakistan economy is of late picking up and the first quarter of 2014 shows a GDP growth of 5.1 %, up from 3.7%. Pakistan GDP(PPP) is 514.6 billion USD Bangladesh GDP(PPP) is 347 billion USD
It's the region and their people who should benefit. If the neighboring countries develops then it is a win win for all. India, Pakistan, Bangladesh, Srilanka, alike as well the smaller countries.
So your country forex reserve is just half of our reserve.In South asia No. 1 country is India followed by 2. Bangladesh 3.Pakistan or Srilanka 4.Afghanistan