KARACHI: The State Bank says that Pakistan has successfully implemented the payment of one billion dollars worth of international bonds on April 12, 2024.
State Bank added that this payment was made to the agent bank for distribution to the bondholders, which included principal and interest.
According to the latest data, Pakistan’s foreign exchange reserves have stabilized somewhat in recent weeks, with reserves held by the State Bank increasing by $19 million on a weekly basis to reach $8.04 billion as of March 29.
The total foreign exchange reserves of the country were 13.38 billion dollars. Net foreign exchange reserves of commercial banks stood at $5.34 billion. The payment will reduce the State Bank’s reserves to about $7 billion, but Pakistan expects to receive money from the International Monetary Fund (IMF).