Sunday, July 14, 2024

State Bank Reserves Drop to Massive Low $5.8 Billion

It became even more hard for Pakistan to pay off its loans on Thursday as the State Bank of Pakistan’s foreign exchange reserves fell by another $294 million to $5.8 billion, their lowest level in eight years.

Pakistan has been in a tough position since its reserves are insufficient to pay off its enormous debt.

Ishaq Dar, the federal finance minister, claims that Pakistan would not fail, but the reality does not support his claims.

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