On Friday, the State Bank of Pakistan (SBP) Governor Jameel Ahmad stated that Pakistan will repay a $1 billion international bond on December 2 which is three days before its due date.
Prior to this there had been doubts of Pakistan’s ability to meet payments and that too on time given how the country has been lurching from one economic crisis to another, with the floods adding extra financial burden.
Now Governor Jameel Ahmad has said that Pakistan is due to pay USD 1.08 billion three days in advance of the issued deadline of December 5.
On November 18 Pakistan’s reserves were reported to be at $7.8 billion. In order to ensure that foreign exchange reserves are not affected, funding was brought in from multilateral and bilateral. As per Ahmad, the Asian Infrastructure Investment Bank is giving an amount of $500 million was expected on Tuesday.