Pakistan Forex Reserves At All-Time High Of $17.20 Billion

[Veeru]

Pakistan Forex Reserves At All-Time High Of $17.20 Billion

KARACHI -(Dow Jones)- Pakistan's foreign exchange reserves reached an all-time high of $17.20 billion in the week ended Jan. 1, boosted by U.S. funding released for providing military and logistical support, a central bank spokesman said Thursday.

The South Asian economy's reserves were $16.42 billion in the week ended Dec. 25. The previous high was $17.10 billion in the week to Oct. 15.

Last week the central bank received $633 million from the U.S. government under the Coalition Support Fund, which is designed to reimburse Pakistan for expenses incurred fighting extremist groups.

Foreign exchange reserves held by the central bank rose to $13.53 billion from $12.71 billion, while foreign exchange deposits with commercial banks decreased to $3.67 billion from $3.72 billion a week earlier, the State Bank of Pakistan said Thursday.

"The central bank received funds from the U.S. under the Coalition Support Fund, helping boosting the reserves", said Syed Wasimuddin, official spokesman of central bank.

Reserves of the strife-torn nation, whose problems have deepened since unprecedented floods in July, have been increasing as aid flows in from international donor agencies, friendly nations and Pakistanis living overseas.

-By Haris Zamir, Dow Jones Newswires

Pakistan Forex Reserves At All-Time High Of $17.20 Billion

 

[ginger]

its 17 billion and all time high... wow its huge

 

[Guynextdoor]

Technically it's some 10% of Pakistan's GDP (and 18% of Hewlett Packard's revenues, 1/3 rs of Tata's revenues).

 

[azfar]

and 50% is from loans btw. jiye buttho

 

[Mahinda18]

Technically it's some 10% of Pakistan's GDP (and 18% of Hewlett Packard's revenues, 1/3 rs of Tata's revenues).

Are you trying to make any point here? A fact in itself is nothing. It is valuable only for the idea attached to it, or for the proof which it furnishes.

forex should maintained at around 6 months worth of imports, if it raises any further its a waste of money. That what happened with sri lanka, which resulted in the creation of a exim bank to channel the excess funds out to make better utilization of it.

 

[Guynextdoor]

^^^ pont- it's smaller than it's natural potential for a country of 180 M people

 

[Mahinda18]

^^^ pont- it's smaller than it's natural potential for a country of 180 M people

What do you mean by potential? the potential changes from country to country due to different levels of incomes among different countries.

for example. (per captia) forex works out to be of some S.A countries

Nepal, could find any data for Nepal, maybe someone else can?
Bangladesh $61
Pakistan $100
India $235
sri lanka $421

These varying levels of forex can be explained by the graph below, different income levels in different countries have varying requirements.

World Bank, World Development Indicators - Google public data

Also The US dollar isn't the entire composition of a forex reserve for example.
8.1% of india's forex reseves is held in gold.
16.2 % of pakistan's
11.9% of Sri lanka's
5.2% of Bangaldesh

It's all depended on requirement.

 

[ajtr]

Pakistan Forex Reserves At All-Time High Of $17.20 Billion

Pakistan Forex Reserves At All-Time High Of $17.20 Billion

And pakistanis complain that foreign reserves were higher during Musharraf's dictatorship.And it only and its only 2 and half years that civilian govt has ruled.And thing to remember is that civilian govt has achieved this not through shortcut aziz type shortcut formula by cooking accounts books to show better economic figure as during Musharraf's rule.

 

[SMC]

^ A good portion of these forex reserves are built on loans. We had about 16 billion forex reserves in Musharraf's time and they were mostly from our own money.

 

[Guynextdoor]

And pakistanis complain that foreign reserves were higher during Musharraf's dictatorship.And it only and its only 2 and half years that civilian govt has ruled.And thing to remember is that civilian govt has achieved this not through shortcut aziz type shortcut formula by cooking accounts books to show better economic figure as during Musharraf's rule.

We told you that democracy would work for you...you just have to have faith and stick with it

 

[Icarus]

And pakistanis complain that foreign reserves were higher during Musharraf's dictatorship.And it only and its only 2 and half years that civilian govt has ruled.And thing to remember is that civilian govt has achieved this not through shortcut aziz type shortcut formula by cooking accounts books to show better economic figure as during Musharraf's rule.

This is primarily aid money, if the economy was so good, the IMF wouldn't be dictating our economic policies to us. The export sector is in shambles, about 56% of the textile industry has migrated to Bdesh. Factory workers are out of jobs, factories remain closed on account of power shortage for 4 OUT OF 7 DAYS. If all this can be traded for a dictatorship and a better economy even from "Cooked Account Books" then I want my coup de' tat !

 

[Icarus]

We told you that democracy would work for you...you just have to have faith and stick with it

Hmmmmm.....Our long time rival telling us that democracy is a good thing.....
*Note to self* Sack the govt.........
Lol

 

[Guynextdoor]

Hmmmmm.....Our long time rival telling us that democracy is a good thing.....
*Note to self* Sack the govt.........
Lol

Oh hell no!! Last thing you can accuse India of hipocrisy. We have told you exactly what we believe in and what we practice- ladai jhagde chhod do aur economy focus karo---we live by it and that's what every Indian member has said. As your GDP grows, so will your defence budget.

 

[Mahinda18]

Hmmmmm.....Our long time rival telling us that democracy is a good thing.....
*Note to self* Sack the govt.........
Lol

Go for a petitition.

*Suggestive Note* Stay away from Taliban controlled areas.

On more seriously note, first thing you need to do is create budget transparency, then you know exactly where you are what direction you need to head in. Theirs not point living in a fool paradise on what some said were 'cooked account books'

World Map | IBP

Pakistan only releases whats been classified as 'minimal information' on the budget.

 

[Icarus]

Oh hell no!! Last thing you can accuse India of hipocrisy. We have told you exactly what we believe in and what we practice- ladai jhagde chhod do aur economy focus karo---we live by it and that's what every Indian member has said. As your GDP grows, so will your defence budget.

I was kidding plus, we have reasons not to trust India.
2008: Indian chief says Pakistan has nothing to fear from India they can move their troops to the Western border without fear of any danger from the East.
2010: India initiating programme to convert an Airport under Western Command into a full-fledged airfield.

Considering you guys are 5 times larger than us, that rings bells.......