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Pakistan made $800 million debt payments in June 2020

MM News Staff by MM News Staff
July 4, 2020
SBP extends relaxation of biometric verification of dormant accounts

SBP extends relaxation of biometric verification of dormant accounts

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.
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