How much Pakistan’s foreign exchange reserves increases ?
ISLAMABAD: Pakistan’s Domestic foreign exchange reserves increased by $21.4 million in the business week ending September
According to the State Bank of Pakistan, the domestic foreign exchange reserves stood at $19.68 billion as of September 05. The State Bank’s reserves increased by $33.8 million to $14.33 billion. Commercial banks’ reserves decreased by $12.4 million to $5.34 billion.
On the other hand, Pakistan schedule for the second economic review between Pakistan and the International Monetary Fund (IMF) has been finalized. According to sources, the IMF delegation will visit from September 25 to October 8, with technical-level talks in the first phase and policy level talks in the second phase.
Sources say that the IMF delegation will also hold talks with the Ministry of Finance, Ministry of Energy, Planning, State Bank, FBR, OGRA and NEPRA, as well as other regulatory institutions and ministries.
According to sources, the IMF delegation will also hold separate talks with Punjab, Sindh, Khyber Pakhtunkhwa and Balochistan. Sources in the Ministry of Finance said that Pakistan is to receive $1.3 billion in 28 months under the Climate Financing Agreement.
According to sources, the IMF delegation’s visit will last for two weeks. The IMF delegation will recommend whether or not to release the third tranche after reviewing the economy.
In case of a recommendation from the IMF to release the next tranche, the Executive Board will approve it. Technical negotiations will be held in the first phase of the IMF delegation’s visit, while policy-level negotiations will be held in the second phase of the visit.
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