Business
Pakistan's foreign reserves plunge to $9.7 billion amid IMF deadlock
The central bank says the decrease happened due to "external debt repayment"
Karachi: The total foreign exchange reserves held by the State Bank of Pakistan's (SBP) fell by $366 million to $9.72 billion owing to external debt repayments.
Sharing the data, the SBP said the total liquid foreign reserves, till May 27, stood at $15,771.4 million.
The central bank added that the decrease occurred due to "external debt repayment".
The development comes as Pakistan has yet to reach a staff-level agreement with the International Monetary Fund (IMF), but the government is hopeful of striking a deal this month.
Total liquid foreign #reserves held by the country stood at US$ 15.77 billion as of May 27, 2022. For details: https://t.co/WpSgomnd3v pic.twitter.com/jBYUqPm0Xr
— SBP (@StateBank_Pak) June 2, 2022
Total liquid foreign exchange reserves held by the country stood at US$ 15.77 billion as of May 27, 2022.
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