ISLAMABAD – PTI government faces a steep decline of over $600 million inforeign currency reserves in the last 15 days.
Moreover Pakistan will have to repay over $2.522 billion loan in the shapeof principal and mark-up amounts during three months period from Septemberto November 2018. It will have to be paid to all international,multilateral and bilateral creditors as well as investors of sovereign bondholders.
“Now dollar inflows are required on immediate basis to avert eruption offull-fledged crisis keeping in view repayment requirements and steepdepletion of foreign currency reserves,” top official sources said.
Within these three-month period, the PTI led government will have to takeimportant decision either for knocking at the door of the IMF for seekinganother bailout package or to get breathing space by relying upon friendlycountries like Saudi Arabia and China for doling out $5 billion to $8billion to narrow down the financing gap on external front.
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The government also plans for launching the sovereign Euro and Sukuk bondsto get $3 billion as well as Pakistani Diaspora bond to generate $1 billionto $2 billion.
To ascertain the exact financing gap on external front, the IMF staff teamis scheduled to visit Islamabad on September 27 this month and expected tostay for one week to gauge the actual economic position of the country oninternal and external front of the economy.
