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External Debt

Reserves down by $170mn in a week due to external debt-servicing, imports

KARACHI: The State Bank of Pakistan in its weekly report on foreign exchange reserves has reported a decline of $170mn in the reserves, primarily because of payments in lieu of external debts and other payments including imports.  On December 21, 2018, the reserves held by the central bank stood at $7.457bn whereas the forex reserves available with the commercial banks were at $6.560bn level. However, due to debt-servicing and other payments amounting up to $170mn, the SBP reserves on December 28 2018 came down to…

PPP senator expresses alarm at mounting external debt

KARACHI: Pakistan People Party Parliamentarians (PPP-P) Vice President Senator Sherry Rehman slammed the government over Pakistan’s mounting external debt which has swollen to a whopping $83 billion. The senator in a statement said the alarming rise in the external debt shows the downward trajectory of the government’s lacklustre economic vision. “The gross public debt now stands at Rs. 21.4 trillion or 67.2% of GDP. The figure was Rs. 14.7 trillion during the last year of the PPP government. “External debt…