Pakistan repays $1bn in international bonds

Pakistan successfully executed the repayment of $1 billion in International Bonds on April 12, 2024, according to the State Bank of Pakistan (SBP).

The central bank said that the payment, principal plus interest, was made to the agent bank for onward distribution to the bondholders.

Following this international payment, the State Bank of Pakistan (SBP) expects its foreign exchange reserves to decrease to approximately $7 billion. 

However, Pakistan anticipates an inflow from the International Monetary Fund (IMF) by the end of this month to offset this decline.

Recent weeks have seen a stabilisation in Pakistan's foreign exchange reserves. As of March 29, the reserves held by the SBP increased by $19 million weekly, reaching $8.04 billion, according to the latest data.

The country's total liquid foreign reserves amounted to $13.38 billion, with commercial banks holding net foreign reserves of $5.34 billion.