INSUBCONTINENT EXCLUSIVE:
Pakistan to get $1 billion loan from a friendly countryKARACHI: Pakistan will get a loan of $1 billion from
commercial bank of a friendly country to shore up fast depleting foreign currency reserves, Geo News quoted sources in State Bank of
Pakistan as saying.Pakistan's foreign exchange reserves decreased to $17.13 billion in the week ending April 20, compared to $17.54 billion
in the previous week, the SBP said on Thursday
After the loan, the reserves would cross $18 billion mark.There were no more details available in this regard, however, a news story in this
Chinese, against a target of $1 billion for the current fiscal year of 2017/18.With the upcoming transaction, total short-term debt might go
The current account deficit is projected to go up to $16 billion in the current fiscal as it stood at $10.4 in the first seven months of the
for obtaining loan in the range of $1 to $1.5 billion have been accomplished and it is hoped that this transaction will be done within first
fiscal year but the foreign currency reserves held by the SBP continued to decline.Pakistan requires an immediate injection of $6 billion to
$8 billion to keeping its foreign currency reserves afloat otherwise rapidly depleting reserves could deepen the crisis in coming months.
