Posted 2/23/2024, 2:20:36 AM
Pakistan's Debt Crisis Intensifies as Forex Reserves Drain Amid Political Tumult
- Pakistan's debt repayment crisis has intensified due to falling foreign reserves and political uncertainty
- The country needs over $6 billion by the end of the fiscal year for debt payments
- Remittances and export proceeds are providing some relief, but reserves remain under strain
- Import regulations have kept the exchange rate stable, but IMF conditions may threaten this
- Total reserves stand at $13 billion, including $8 billion with the central bank
