SBP reserves rise $1.9bn to $12bn

[Shahzaz ud din]

SBP reserves rise $1.9bn to $12bn
By
Meiryum Ali
-
April 30, 2020
0
51

KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $1,181 million to $12,070.3 million during the week ending April 24, 2020, according to data released by the central bank on Thursday.

This sharp increase from the $10,889.2 million recorded during the previous week can be mainly attributed to the $1.39 billion received from the IMF.

During the week ending April 24, the SBP received $1.39 billion from the IMF under the Rapid Financing Instrument (RFI) to address the economic impact of the Covid-19 shock.

The central bank had previously announced the IMF funds would be part of SBP weekly reserves data as of April 24.

However, the SBP had also made government external debt repayments amounting to $234 million.

Net foreign reserves held by commercial banks, decreased marginally, from $6,411.1 million to $6,392.7 million.

The total liquid foreign reserves held by the country rose from $17,300.3 million in the last week to 18,463.0 million during the week under review.

SBP reserves had momentarily risen by $252 million to $10,974.6 million during the week ending April 10, 2020. This was the first time reserves had risen since March 13.

 

[ziaulislam]

IRONICALLY, our economy is less dependent upon exports..thus in this crisis, we were less hit versus countries like Bangladesh...

however, if this stretch continues then gulf countries remittances will be hit hard and that would affect us really bad

 

[Pakistansdefender]

IRONICALLY, our economy is less dependent upon exports..thus in this crisis, we were less hit versus countries like Bangladesh...

however, if this stretch continues then gulf countries remittances will be hit hard and that would affect us really bad

If we have a lockdown similar to punjab and kpk in sindh. We would be fine for some time as local economy can work even till 5 pm half day. Look frankly I went to mosque for tarawih yesterday. Everyone was praying outside with social distencing and 3 times people came to check and 1 man who tries to break the distancing is removed immediately and no one with mask is allowed. Similarly shops are open till 5. But vegetable vendors and fruit vendors on wheels work easily. Food dilevery is open.
But in sindh condition is very bad. They are working against the will of the people rather then working with them sadly. And now you see their carona numbers are higher then punjab despite tougher lockdown. And local economy is hurting. If somewhat local economy works effects can be minimized.

 

[deathfromabove]

IRONICALLY, our economy is less dependent upon exports..thus in this crisis, we were less hit versus countries like Bangladesh...

however, if this stretch continues then gulf countries remittances will be hit hard and that would affect us really bad

Gulf countries have already opened up from this week; in fact Saudi is mulling going ahead with Hajj

 

[ziaulislam]

If we have a lockdown similar to punjab and kpk in sindh. We would be fine for some time as local economy can work even till 5 pm half day. Look frankly I went to mosque for tarawih yesterday. Everyone was praying outside with social distencing and 3 times people came to check and 1 man who tries to break the distancing is removed immediately and no one with mask is allowed. Similarly shops are open till 5. But vegetable vendors and fruit vendors on wheels work easily. Food dilevery is open.
But in sindh condition is very bad. They are working against the will of the people rather then working with them sadly. And now you see their carona numbers are higher then punjab despite tougher lockdown. And local economy is hurting. If somewhat local economy works effects can be minimized.

SINDH pm IS AN IDIOT..
also educated people with continuous stream of income are idiots..
people cant survive closure in USA and they talking about shutdowns in third world country..
deaths will be lower in Pakistan as compared to other countries simply (and SADLY) because the elderly vulnerable population is usually killed off in Pakistan due to lack of 3 basic vaccines..
in presence of this basic vaccine USA recorded 70,000 flu deaths..without these vaccines..well your guess is as good as mine

these vaccines are
1. flu shot made yearly from most expected strains
2. pneumococcus 13
3. pneumococcus 23

everyone above 50 and smokers get these in USA (and most of the secondand first world countries)..its covered ubiquitous by all insurances with zero co pay

people tell hey what happened in iran..
well, their life expectancy is 77 vs 64 years in Pakistan vs 78 in USA AND 84 years in italy.