ANI | Updated: January 22, 2023 15:44 IST Islamabad [Pakistan]January 22: Pakistan’s economic crisis is going from bad to worse. Foreign exchange reserves in the State Bank of Pakistan (SBP) recently touched a two-week low of $4.343 billion. This is only due to the inefficiency of the political class and the over-involvement of the military … Read more
S&P Global Ratings has downgraded Pakistan’s long-term sovereign credit rating to ‘CCC+’ from ‘B-‘. Pakistan, whose foreign exchange reserves are already below $7 billion, will continue to under pressure in the coming year, S&P said in a statement. Increasing instability due to the current political and security situation has exacerbated Islamabad’s problems. Currently, Pakistan’s foreign … Read more
The Central Bank of Pakistan has recently imposed foreign exchange restrictions to protect the country’s dwindling reserves. This is in light of recent reports of the emergence of a black market for dollars. Pakistan’s foreign reserves have reportedly fallen to a four-year low of $6.7 billion. According to Bloomberg, on the surface, this hasn’t affected … Read more