{"id":318486,"date":"2023-03-10T08:58:39","date_gmt":"2023-03-10T03:58:39","guid":{"rendered":"https:\/\/leadpakistan.com.pk\/news\/?p=318486"},"modified":"2023-03-10T08:58:39","modified_gmt":"2023-03-10T03:58:39","slug":"sbp-held-foreign-reserves-rise-above-4-billion-mark","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/sbp-held-foreign-reserves-rise-above-4-billion-mark\/","title":{"rendered":"SBP-held foreign reserves rise above $4 billion mark"},"content":{"rendered":"<p>Foreign exchange reserves rise to $4.3 billion after Pakistan receives $500 million from Chinese bank<br \/>\n KARACHI<br \/>\nThe State Bank of Pakistan (SBP)-held foreign exchange reserves rose above the $4 billion mark after the cash-strapped nation received a $500 million loan from a Chinese bank.<br \/>\nThe central bank, in its weekly bulletin, said that its foreign exchange reserves have increased by $487 million to $4,301 million as of the week ended March 3, which will provide an import cover of around a month.<br \/>\nThe SBP received $500 million last week from the Industrial and Commercial Bank of China (ICBC) as part of the institution\u2019s $1.3 billion facility, just days after it had received $700 million from the China Development Bank.<br \/>\nPakistan hasn\u2019t received funds from any friendly country except for China as the $350 billion economy struggles to revive the stalled International Monetary Fund (IMF) programme.<br \/>\nCash-strapped Pakistan has been trying to secure the IMF bailout to avert a debt default, unlock more funding and stave off severe supply shortages. There are $7 billion of repayments in the coming months, including a Chinese loan of $2 billion due in March, according to Fitch Ratings.<br \/>\nThe nation needs to repay about $3 billion dues in the upcoming payments while $4 billion is expected to be rolled over, SBP Governor Jameel Ahmad said in an analyst briefing after the announcement of the monetary policy rate \u2014 which has been jacked by to a 27-year high of 20%. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Foreign exchange reserves rise to $4.3 billion after Pakistan receives $500 million from Chinese bank KARACHI The State Bank of Pakistan (SBP)-held foreign exchange reserves rose above the $4 billion mark after the cash-strapped nation received a $500 million loan from a Chinese bank. The central bank, in its weekly bulletin, said that its foreign [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":318506,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":{"0":"post-318486","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-top-news"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SBP-held foreign reserves rise above $4 billion mark<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadpakistan.com.pk\/news\/sbp-held-foreign-reserves-rise-above-4-billion-mark\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SBP-held foreign reserves rise above $4 billion mark\" \/>\n<meta property=\"og:description\" content=\"Foreign exchange reserves rise to $4.3 billion after Pakistan receives $500 million from Chinese bank KARACHI The State Bank of Pakistan (SBP)-held foreign exchange reserves rose above the $4 billion mark after the cash-strapped nation received a $500 million loan from a Chinese bank. 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