Pakistan Foreign Exchange Reserves may witness sudden rise of $5 billion
Shares
ISLAMABAD - Pakistan Foreign Exchange Reserves may witness a sudden rise of $5 billion, it has been reported.
China is expected to deposit $2 billion in Pakistan reserves during the month of December and more importantly the economic diplomacy with the UAE is also going to show some results as UAE is likely to provide financial assistance worth $3 billion as well.
According to a report in a local newspaper, Pakistan is likely to receive financial assistance from China and UAE this month.
A senior official, privy to the development, told the local newspaper that during the month of January 2019, the country is most likely to attain a $6 billion facility.
He further added that “UAE will also deposit $3 billion in Pakistan’s exchange reserves, but in installments, and will also extend an oil facility of $3 billion for deferred payment too.”
China will deposit $2 billion and will most likely do it in one go. However, he said, China wants Pakistan not to highlight its assistance for strengthening the reserves.
