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A detailed thread on Pakistan's debt and Foreign exchange reserves. #NayaPakistan is on the way becoming #NayaPaisaPakistan
In August 2018, foreign exchange reserves with the State Bank of Pakistan (SBP) stood at $10bn. Pak borrowed $3bn from SaudiArabia and $2bn from UAE. As of March 8, 2019, foreign exchange reserves with the SBP stood at $8bn. Still they are in talks with IMF to get $12bn more.
By Jan2019, the accumulated stock of circular debt had soared to Rs1.4 trillion. For the record, the PTI govt added Rs260billion in 137 days. The PTI govt is adding Rs2bn a day every day of the year (a few years ago, the same figure was Rs1bn a day). ((Rs is PKR currency))
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