Pakistan made $800 million debt payments in June 2020

KARACHI: The State Bank of Pakistan has made a payment of over $800 million for debt servicing to various banks and countries during the week ended 26th June-2020.

SBP received around $2,046 million official inflows, including $737 million from World Bank, $503 million from Asian Development Bank, $500 million from Asian Infrastructure Investment Bank, and $300 million as GOP loan disbursement from China.

The fresh outflows and inflows of foreign exchange settled its position at $17.971 billion on 26-June-2020 with SBP’s reserves at $11.231 billion and commercial banks holding $6.740 billion.

Read more: SBP introduces automation of tax refunds project

In the next few days after June 26th, SBP also received an additional $1 billion as GOP loan disbursement from China, increasing the reserves to $18.97 billion.

Due to the heavy inflow of loans, the position of the Rupee against Dollar saw improvement in recent days which is likely to be stable in the next few weeks.