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Wednesday, February 8, 2023
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HomeNewsPakistan hopes to acquire $32b loan this year experts

Pakistan hopes to acquire $32b loan this year experts

Reputable political and economic analysts according to local media observed on Friday that there were no immediate chances of declaring an economic emergency in the nation because the administration continues to hold out hope for receiving $32 billion in loans this year.

While discussing current political and economic issues, analysts remarked that Pakistan’s official foreign exchange reserves had fallen to their lowest level in four years, $6.7 billion and that the critical phase had already started.

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Experts disregarded the prospect of declaring an economic emergency in the nation by stating that “Pakistan is still aiming to obtain a total of $32 billion in foreign assistance in the current fiscal year.”

They noted that Pakistan’s foreign exchange reserves have been at an extremely low level and that Pakistan has lately asked Saudi Arabia to immediately give $3 billion in cash.

Analysts further disclosed that Pakistan needs a minimum of $32 to $34 billion in the current fiscal year to service its debt and close the current account deficit gap. However, he said that the $4.2 billion in foreign inflows over the first four months remained unchanged.

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The experts also talked about whether the finance minister would be able to keep his word and grant the protesting workers a 150% executive allowance, claiming that doing so would save Rs1.3 billion annually.


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