• Login
  • Home
  • Pakistan
  • International News
  • Business
  • Sports
  • Entertainment
  • Opinion
No Result
View All Result
  • Home
  • Pakistan
  • International News
  • Business
  • Sports
  • Entertainment
  • Opinion
No Result
View All Result
Times of Pakistan
No Result
View All Result
Home Business Economy

SBP Pays 24th Instalment Of IMF’s SBA Facility Of $396m

ToP by ToP
November 27, 2013
in Economy, Featured
0
State Bank of pakistan
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter

State Bank of pakistanThe State Bank of Pakistan (SBP) paid 24th instalment under the International Monetary Fund’s (IMF) Stand-by Arrangement (SBA) facility amounting to $396 million, said SBP spokesperson on Tuesday.

The spokesman said with the repayment of current instalment, Pakistan to-date has repaid IMF $6,045 million since July 2011, of which $5,256 million was under SBA facility. The economists have concerns over the economic situation as the country has to pay a huge amount with no expectations of major inflows, while the country’s foreign exchange reserves were continuously declining.

The dollar has touched Rs 109.15 in the open currency market, while Rs 108 in the interbank market. During the month the dollar rose by Rs 2 in the month of November only. The previous government of Pakistan People’s Party (PPP) has taken help from the IMF to maintain the country’s reserves, which were at that time at $17 billion but now the reserves have been reduced to $10 billion, including Rs 4.29 billion of SBP and $5.19 billion of other banks of the country.

Pakistan got the IMF programme to maintain its reserves and avoid possible default,” the analyst said. However the programme itself seems to have failed as the reserves are gradually declining due to a massive repayment of this loan, the analyst said. -Dailytimes

Previous Post

Burglars Target All-Rounder Razzaq

Next Post

Dubai Ready To Welcome Expo Bid Result

ToP

ToP

Related Posts

Pakistan earns US $434 million by exporting transport services in 7 months
Pakistan

Pakistan earns US $434 million by exporting transport services in 7 months

by Top
April 12, 2022
IMF to continue support Pakistan after ‘new gov’t is formed’
Economy

IMF to continue support Pakistan after ‘new gov’t is formed’

by Top
April 6, 2022
National Assembly Approves Rs8.487tr Budget for next Fiscal year with Majority Vote
Economy

National Assembly Approves Rs8.487tr Budget for next Fiscal year with Majority Vote

by Top
June 30, 2021
Entertainment

Hareem Shah reveals why Sheikh Rasheed never married

by Top
April 12, 2021
Rupee Becomes World’s best Currency
Economy

Rupee Becomes World’s best Currency

by Top
April 1, 2021
OGRA Recommends Slashing Fuel Prices
Economy

OGRA Recommends Slashing Fuel Prices

by Top
March 31, 2021
Rising Inflation costs Hafeez Shaikh his Job
Economy

Rising Inflation costs Hafeez Shaikh his Job

by Top
March 30, 2021
Next Post
Dubai Expo 2020

Dubai Ready To Welcome Expo Bid Result

Popular Stories

  • Self-reliance, tactical solutions needed to address economic problems: PM

    Self-reliance, tactical solutions needed to address economic problems: PM

    0 shares
    Share 0 Tweet 0
  • Petrol, and diesel in Pakistan still cheaper than UK, BD, India, UAE

    0 shares
    Share 0 Tweet 0
  • Veena Malik, Shaista Lodhi, Mir Shakeel Court Orders 26 Years in Jail

    0 shares
    Share 0 Tweet 0
  • Over Population In Pakistan

    0 shares
    Share 0 Tweet 0
  • Education As An Agent of Social Change

    0 shares
    Share 0 Tweet 0
Times of Pakistan

About Times Of Pakistan

kralbetbetturkeyikimislibahis1xbetm.infohipas.infohttps://www.wiibet.com/restbetcdn.com

Other Categories

  • Beautiful Pakistan
  • Fashion News
  • Funny News
  • Viral Videos
  • Weird News

Recent Posts

  • Pakistan not in isolation, foreign policy moving in right direction: Hina
  • Self-reliance, tactical solutions needed to address economic problems: PM
  • Imran Khan finding another Saqib Nisar in the judiciary says, Maryam Nawaz

Times Of Pakistan © 2021. Design & Developed by E2E Solution Providers.

No Result
View All Result
  • Home
  • Pakistan
  • International News
  • Business
  • Sports
  • Entertainment
  • Opinion

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In