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Pakistan’s National Bank (SBP) Governor Jamir Ahmad on Friday vowed that the country would repay its $1 billion international bond issuance on 2 December.
Ahmad said the bonds maturing on Dec. 5 will total $1.08 billion in repayments.
“The redemption will take place on December 2, 2022, three days before the bond maturity on December 5, 2022,” he said.
Pakistan’s foreign exchange reserves fell to a very low level of US$7.83 billion in the week ending 18 November 2022, whereas in August 2021 he was over US$20 billion. depressed.
He believes the reserves will be “much more” by the end of the June 2023 fiscal year.