PAKISTAN’S central bank reserves have fallen to US$10.4 bil, and the country’s total liquid reserves including commercial banks stood at US$16.5 bil, the bank said yesterday.
“During the week ended on 30-April-2022, State Bank of Pakistan (SBP) reserves recorded a decline of US$59 mil to US$10,499 mil due to external debt payments,” a statement from the State Bank of Pakistan said.
Pakistan has seen a sharp decline in reserves which have dropped more than US$5 bil since March, mainly due to debt and other external payments.
The South Asian nation in dire need of external finances has sought an increase in the size and duration of a US$6 bil International Monetary Fund (IMF) programme agreed in 2019. – May 7, 2022
