ISLAMABAD: The country’s foreign exchange reserves will likely to increase to nearly $21 billion in near future as World Bank is giving $500 million and Asian Development Bank is granting $400 million loan in next couple of weeks.
The current reserves are hovering around $20 billion that would cover 4-5 months import bill of the country. Pakistan’s reserves had fallen to $7.58 billion in February 2014, of which SBP reserves amounted to a meager $2.70 billion and those of commercial banks amounted to $4.88 billion. However, the government had enhanced its reserves through various measures, largely taking loans and issuing bonds.
