KABUL (Pajhwok): Pakistan's foreign exchange reserves slipped to the alarming level of below $3 billion for the first time in nine years on Thursday, a media report said.
The State Bank of Pakistan (SBP) said in its latest weekly update that the country's foreign exchange reserves decreased by $170 million to $2,916.7 million (or $2.92 billion) due to external debt repayments in the week ending February 3, 2023.
According to Express Tribune, the alarming levels of the forex reserves have raised the risk of default on the repayment of foreign debt.
However, Finance Minister Ishaq . . .
