KARACHI: The total liquid foreign reserves of Pakistan increased to US$ 13,256.6 million while reserves held by State Bank reached $ 8,154.8 million in the week ended on January 05, 2023, ARY News reported quoting SBP.
The State Bank of Pakistan, in a statement issued here on Thursday, informed that SBP’s reserves decreased by $ 66 million to $ 8,154.8 million due to debt repayments during the week under review.
Meanwhile, net foreign reserves held by commercial banks stood at $ 5,101.8 million, it added.
Total liquid foreign reserves held by the country, in the previous week ended on December 29, 2023, were $ 13,220.6 million. Among them, foreign reserves held by the central bank were $ 8,221.2 million while net foreign reserves held by commercial banks were $ 4,999.4 million.
Read more: IMF board approves $700mln loan for Pakistan
It is pertinent to mention here that the Executive Board of the International Monetary Fund (IMF) completed the first review of Pakistan’s economic reform programme supported by its Stand-By Arrangement (SBA).
“The Board’s approval allows for an immediate disbursement of SDR 528 million (around US$ 700 million), bringing the total disbursements under the SBA to US$ 1.9 billion,” a Finance Ministry news release said.
The IMF’s nod follows the staff-level agreement reached between the Fund and Pakistan on November 15, 2023, emphasizing the nation’s commitment to implementing key reforms.
from ARY NEWS https://ift.tt/RFIt6o3
