In positive economic development, $2.9 billion injected into Pakistani economy

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In positive economic development, $2.9 billion injected into Pakistani economy

KARACHI: In positive economic development, $2.9 billion injected into Pakistani economy.

Foreign investment in government securities has reached $2.915 billion in the current fiscal year of 2019/20, the central bank data showed on Friday.

According to a report link published in *The News*, the country received a net $2.879 billion foreign investment in short term treasury bills from July 1, 2019 to January 30, 2020.

Pakistan Investment Bonds attracted $36 million foreign investment in the period under review. In the auction held on January 29, foreign investors pumped $209 million in short-term government securities.

A major chunk of investments in the T-bills came from investors in the United Kingdom and the United States. Investment from the United Kingdom in T-bills clocked in at $2.016 billion followed by the US with $792.8 million.

Analysts said the appetite for Pakistan’s domestic debt has increased as the central bank hiked interest rates by 7.50 percentage points over a period, which resulted in unprecedented rise in yields.

Economy