Pakistan
State Bank Reserves Drop to Alarming low $4.5 Billion after Loans Repayment
The foreign exchange reserves of Pakistan dipped further on Saturday to $4.5 billion after it repaid loans to two foreign banks. Sources said the cash-strapped country paid $600 million to the Emirates NBD Bank and $420 million to the Dubai Islamic Bank. The depleting foreign reserves have brought the country’s import cover down to nearly…
