Pakistan's foreign reserves fall by $65 million
- By Web Desk -
- Jan 01, 2021
KARACHI: The total liquid foreign reserves held by the country stood at US$ 20.25 billion during the week ended on December 24, according to the State Bank of Pakistan (SBP).
Giving a break-up of the foreign reserves position, the central bank said foreign reserves held by it stood at US$ 13.15 billion, while net foreign reserves held by commercial banks at US$ 7.10 billion.
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During the week ended on December 24, the State Bank said its reserves decreased by US$ 65 million to US$ 13.15 billion due to external debt repayments.
On December 27, Prime Minister Imran Khan had lamented that the government has very little left to spend on the people because half of its revenue collections are being used for debt repayment.
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In a Facebook post, the prime minister said: “I am aware of the needs of the people, but when the ‘corrupt’ rule the country, the entire system under which people’s needs should be serviced is destroyed.”