Pakistan receives $2.2 billion from friendly country, confirms SBP

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Pakistan receives $2.2 billion from friendly country, confirms SBP

ISLAMABAD – Pakistan has received US$ 2.2 billion from China, according to the country’s central bank.

“The SBP has received RMB 15 billion value, equivalent to $2.2 billion as proceeds of the loan obtained by government of Pakistan from China,” the State Bank of Pakistan (SBP) said in a tweet on Monday.

link SBP ✔@StateBank_Pak link link

State Bank of Pakistan has received RMB 15 billion value today equivalent to $2.2 billion as proceeds of the loan obtained by Government of Pakistan from China. 4:09 PM - Mar 25, 2019 link

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With this deposit, the country’s forex exchange reserves have strengthened while the situation of balance of payment has also been improved.

Last week, Adviser and Spokesman for Ministry of Finance Dr Khaqan Najeeb had clarified that the discussions with international partners do not entail any target level of exchange rate.

link Dr. Khaqan Hassan Najeeb@KhaqanNajeeb link · Mar 22, 2019 link link

Clearly no target PKR/USD exchange rate is envisaged. Speculation baseless & unfounded. SBP Economic models point to the Real Effective #Exchange link Rate at equilibrium value. # BOP link stability ensured with a fall in C/A & more than adequate foreign financing availability. (1/2)

link Dr. Khaqan Hassan Najeeb@KhaqanNajeeb link

Discussions with international #partners link do not entail any target level of #exchange link rate. Focus is on further strengthening the exchange rate regime, aligning it and keeping it consistent with the evolving #macro link economic fundamentals of the # economy link.

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He said that focus was on further strengthening the exchange rate regime and keeping it consistent with the evolving macroeconomic fundamentals of the economy.

He also termed the news regarding fixing the exchange rate target as baseless and unfounded.