Pakistan’s gold is going nowhere for now

The SBP has rejected unsubstantiated claims that they were about to pledge their gold reserves, but is that even an option?

There was, a few weeks ago, a rumour making the rounds that Pakistan had pledged its gold reserves. For those that do not know what that means, it is when a government is in such a deep crisis that it promises its gold reserves as collateral in exchange for foreign currency when a country’s coffers are entirely depleted.

 

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Ariba Shahid
The author is a business journalist at Profit. She can be reached at [email protected] or at twitter.com/AribaShahid

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