Forex reserves rise to $11.22 bln
Friday, April 17, 2009
SBP has confirmed that Pakistan's foreign exchange reserves rose by $50 million to $11.22 billion in the last week ended. SBP's reserves rose to $7.86 billion from $7.80 billion a week earlier while reserves held by commercial banks marginally fell to $3.36 billion from $3.37 billion, the bank said.
Pakistan recently received $500 million from the World Bank and $848 million from the International Monetary Fund, which was reflected in the data last week. Foreign reserves hit a record high of $16.5 billion in October 2007 but fell to $6.6 billion in November last year, largely because of a soaring import bill.
Pakistan agreed in November to an IMF emergency loan package of $7.6 billion to avert a balance of payments crisis. Further, Japan pledges up to $ 1.000 billion aid to support econonic reforms and fight against terrorism.
I want to ask one question to every body that what is the best solution to get rid of Pakistan from these economic and terrerism problems. Is the flow of money in form of aid or loans would be last resort for its survival or the nation have other options. If yes please share......
Labels: Economy and Business
posted @ 3:05 PM,
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