The State Bank of Pakistan (SBP) on Friday night confirmed having received the amount from China without sharing any other details about it.
Pakistan’s loan programme is yet to materialise months after it raised taxes and energy prices and allowed the currency to depreciate to meet IMF’s conditions.
Financial analysts said that the foreign exchange reserves held by the State Bank of Pakistan would cover just around three weeks of imports
Data released by the State Bank of Pakistan (SBP) on Tuesday showed that the country lost USD 3.7 billion in remittances during the first 11 months of FY23 mainly due to a widening exchange rate gap.
In its monthly outlook report issued on Friday, the Finance Ministry also said that political instability has started feeding the strong inflationary expectations, The Express Tribune newspaper reported.
According to the State Bank of Pakistan, when the market opened on Friday the currency fell by Rs 7.17 or 2.73 per cent from Thursday’s close
State Bank of Pakistan (SBP) Governor Jameel Ahmad said that the Security and Exchange Commission of Pakistan (SECP) and the central bank were working together on reforms to promote the Islamic finance sector
The PSAA chairman also wrote letters to State Bank of Pakistan (SBP) Governor Jameel Ahmed, Commerce Minister Syed Naveed Namar, and Maritime Affairs Minister Faisal Sabzwari, the Dawn newspaper reported
The forex reserves have dwindled despite efforts by the government to shore up its economy
According to the State Bank of Pakistan (SBP), the forex reserves have declined by USD 784 million in the week ended on December 2
Pakistan: State Bank of Pakistan (SBP) in November last year signed an agreement with the Saudi Fund for Development (SFD) to receive USD 3 billion to improve...
Pakistan’s total debt and liabilities skyrocketed to Rs 59.7 trillion this year, a surge of Rs 11.9 trillion or 25 per cent compared to the preceding fiscal...
Pakistan: The loan agreement with Chinese banks will boost the crisis-hit Pakistan's reserves and enable Islamabad to make import payments while lending some...