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Thursday, June 20, 2024  
13 Dhul-Hijjah 1445  

Pakistan expecting to receive $2 billion by end of December: sources

The inflows would take Pakistan's reserves upto $9 billion
File photo
File photo

The government is expecting to receive $2 billion dollars by the end of the month of December which will provide a much needed boost to its foreign exchange reserves, sources said on Sunday.

The sources said that the inflows will take Pakistan’s forex reserves to $9 billion, which are equivalent to the import expenditure of two months.

The government is expecting to receive around $1.5 billion from the World Bank and Asian Infrastructure Investment Bank.

The government is also expecting $350 million from the International Development Association and $250 million from the Asian Development Bank.

Apart from these funds, the government is positive that $710 million from the International Monetary Fund, which recently concluded its negotiations with Pakistan.

Falling foreign exchange reserves have been a continuous challenge for Pakistan leading to the country turning to international lenders as well as ‘friendly’ countries for debt or debt rollovers to keep the economy afloat.

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foreign exchange reserves

forex reserves