With the repayment of current instalment Pakistan has till date repaid US$6,694 million since July, 2011 to IMF. CREATIVE COMMONS
According to a statement issued by SBP, with the repayment of fresh instalment Pakistan has till date repaid $6.694 billion since July, 2011 to IMF. Out of the total amount paid, $5.809 billion was returned under the SBA facility.
Despite the latest repayment, Pakistan still owes the IMF $1.737 billion.
The depleting foreign exchange reserves of the country can only be checked if it receives foreign exchange inflows in two more IMF tranches amounting to $550 million each, apart from approximately $1 billion from the auction of next generation mobile spectrum licences.
In addition, the government also expects inflows of $800 million from Etisalat which, if realised, will strengthen the foreign exchange position.
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What a policy ie borrow from John and pay Peter.