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Pakistan's Forex Reserves Dip Below $10 Billion as IMF Loan Uncertain – Bloomberg

rixymidya by rixymidya
27 June 2022
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Bloomberg Markets European Close. Live from New York and London, analyzing the major market moving stories across the day in Europe, hear from the biggest newsmakers and showcase the unrivaled expertise of Bloomberg News.
Bloomberg Markets live from New York, focused on bringing you the most important global business and breaking markets news and information as it happens.
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Day laborers wait for work in Rawalpindi, Pakistan, on May 30.
Ismail Dilawar and
Faseeh Mangi
Pakistan’s foreign exchange reserves fell below $10 billion, threatening to spill over into a fullblown economic crisis unless policy makers secure a loan from the International Monetary Fund.
The stockpile decreased by $366 million in the week ended May 27 to stand at $9.72 billion, the central bank said in a statement on its website Thursday. That’s roughly a 50% drop from August and enough to pay for less than two months of imports. 

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