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Pakistan gets $2.2 billion loan from China

KARACHI: Pakistan has received $2.2 billion loan from China, said a tweet of the State Bank of Pakistan on Monday evening.

 

 

 

After receiving such amount, State Bank of Pakistan’s foreign exchange reserves have reached $10.67 billion on Marach 25, 2019.

The total liquid foreign exchange reserves held by the country had stood at $15.709 billion as of March 15.

Earlier, SBP had reported foreign exchange reserves held by the central bank at $8.838 billion by March 15, while the net foreign exchange reserves held by commercial banks stood at $6.870 billion.

During the week under review, the central bank received inflows of $1 billion from the UAE as placement of funds.

After taking into account the outflows relating to external debt and other official payments, the SBP’s forex reserves increased $716 million during that week.

The $2.2 billion arrival of China is an addition in the foreign exchange reserves of the country.

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