Pakistan Foreign Exchange
Pakistan facing another challenge as country's foreign exchange reserve is fast dropping
Karachi: Pakistan might soon be facing yet another challenger as the nation's foreign exchange reserves are fast depleting amid rising external debt servicing.
The country’s external debt servicing rose to $10.886 billion in the first three quarters of 2021-22 compared to $13.38bn in the entire FY21, reports Dawn News.
It was just $1.653bn in 1QFY22 against $3.51bn in the first quarter of 2020-21.
However, the debt servicing jumped to $4.357bn in 2QFY22 and further to $4.875bn in 3QFY22.
The country has been facing a serious threat from its external front as the State Bank of Pakistan’s foreign exchange reserves fell to single digits despite a $2.3bn inflow from China late last month.
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