Liquid foreign reserves stand at $14.21bn: SBP

SBP issues final instructions on IFRS-9 with extended implementation timelines

KARACHI, Jun 23 (APP): The total liquid foreign reserves held by the country stand at $14.21 billion, says State Bank of Pakistan on Thursday.

“During the week ended on 17-Jun-2022, SBP reserves decreased by $748 million to $8,237.7 million mainly due to external debt repayments,” stated the central bank.

Meanwhile, the net foreign reserves with commercial banks amounted $ 5.97 billion.

The Minister for Finance and Revenue Miftah Ismail said that the Chinese consortium of banks on Tuesday signed an RMB 15 billion ($2.3 billion) loan facility agreement with Pakistani authorities.

“We thank the Chinese government for facilitating this transaction,” the minister tweeted, saying the inflow was expected within a couple of days.

APP/ah