SBP sees $63mn dip in foreign reserves due to debt repayment

Total liquid foreign reserves held by the country stand at $13.038 billion 

The State Bank of Pakistan (SBP) reported a decrease in its foreign reserves by $63 million to $7.94 billion due to debt repayments for the week ending February 23, 2024. 

According to a press release, the total liquid foreign reserves held by the country amounted to $13.038 billion. 

Of the total $13.038 billion reserves, the SBP holds $7.94 billion, while commercial banks in the country hold the remaining $5.08 billion. 

The SBP has been striving to maintain its foreign exchange reserves above $8 billion to ensure exchange rate stability. However, several repayments are in queue for debt servicing, profits outflows and other dues.

1 COMMENT

  1. We have to make a lot of payments on account of debt servicing, profit repatriation, IPP’S and other services. For all this dollars are required. The only way to balance current account is to reduce trade deficit and enhance remittances from overseas Pakistani. That is going to take time. Till that time we have to borrow from different lending agencies and ask for roll over of debt to gain some time. In addition to that we also sell some our assets to foreign buyers to get in flow of dollars. All this require short, medium,long term plans.
    Is anybody working on that. Certainly no body has the time and vision to do that. We are more occupied to highlight corruption of politicians, bureaucrats, establishment.
    Breaking news are filled with exercise schedule of Imran. Breakfast,lunch,dinner menu of Sahrifs. Belawal slogans highlighting servicing of her mother efforts for democracy.

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