Finance

Pakistan receives $2.2 bln loan from China.

Karachi, March 25, 2019: Pakistan on Monday received $2.2 billion from China as loan for balance of payment support.

State Bank of Pakistan spokesman said on Monday that SBP has received RMB 15 billion equivalents to $2.2 billion as proceeds of the loan obtained by Government of Pakistan from China.

With arrival of these inflows, Pakistan’s total liquid foreign exchange reserves are likely to reach $17 billion.

These inflows will be reflecting in the next report of SBP’s forex report.

Read More: SBP Announces Concessionary Financing Facility for Special persons

So far Pakistan has received some $3 billion from Saudi Arabia and $2 billion from UAE to ease pressure on external account.

After receiving $2.2 billion from China SBP forex reserves reaches US$10.67 billion as of 25th March 2019.

With net foreign reserves held by commercial banks at US$ 6.91 billion

country’s total liquid foreign reserves stand at US$ 17.58 billion as of 25th March 2019.

After receiving $2.2 billion from China SBP forex reserves reaches US$10.67 billion as of 25th March 2019.

With net foreign reserves held by commercial banks at US$ 6.91 billion country’s total liquid foreign reserves stand at US$ 17.58 billion as of 25th March 2019.

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