The State Bank of Pakistan (SBP) announced on Monday that Pakistan has repaid $1.3 billion in external debt, leading to a temporary decline in the country’s foreign exchange reserves.
According to the central bank, despite the significant outflow, Pakistan’s official foreign exchange reserves are expected to remain stable and rise above $18 billion by June 30.
The SBP said the country’s total foreign exchange reserves are projected to approach $24 billion by the end of June.
The central bank also reported receiving $700 million from international financial institutions, while an additional $1.7 billion was secured through commercial loan refinancing arrangements.
According to the SBP, the combined $2.4 billion from these inflows will be reflected in the country’s official reserves position on June 30.
Last week, the SBP’s foreign exchange reserves stood at $15.92 billion following external debt repayments, while commercial banks held $5.57 billion in foreign currency deposits during the same period.
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