Pakistan’s liquid foreign reserves dropped to $16.37 billion as of December 20, 2024. The State Bank of Pakistan (SBP) reported a decline of $228 million in its reserves during the week.
The SBP holds $11.85 billion of the total reserves. Commercial banks hold $4.52 billion. Combined, the total liquid foreign reserves amount to $16.37 billion.
Decline Due to Debt Repayments
The decrease in SBP’s reserves is attributed to external debt repayments. These payments caused the central bank’s reserves to fall from $12.08 billion to $11.85 billion in one week.
Growing Pressure on Reserves
This decline comes as Pakistan continues to face external debt obligations. The reduction highlights the ongoing pressure on the country’s foreign exchange reserves.
Bushra Bibi Granted Interim Bail in Violent Protest Cases
Significance of Current Levels
The current reserves provide a critical buffer for the country’s import needs and debt servicing. However, the drop underscores the challenges Pakistan faces in managing its external financial commitments.
Government’s Focus on Stabilization
The government is focusing on measures to stabilize the economy and maintain reserves. Efforts are underway to secure foreign inflows and boost exports to strengthen the reserve position.
Follow Day News on Google News, Instagram, YouTube, Facebook, Whats App, and TikTok for latest updates