Reserves rise to record $17.44bn

[Dance]

truth always hurts, foreign exchange reserve should be increased by investment or money sent by your people living in other country but unfortunately pakistan reserve are increased by loan and aid .which are unsustainable

My point is that whenever there is positive news about Pakistan in general, Indians always try to find something negative in it or downplay it.

 

[SMC]

My point is that whenever there is positive news about Pakistan in general, Indians always try to find something negative in it or downplay it.

Yup, that is a well observable trend. They downplay it, mention some other negatives to divert attention from the current news, try to create pessimism somehow, etc. And then they say they want a stable Pakistan and prosperous Pakistan. Their actions mentioned previously lead one to believe otherwise.

 

[GUNS-N- ROSES]

while i m sure the the comment of some indian members was totally uncalled for, i would like to state this is phenomenon is not restricted to indians alone. there have been several occassions where pakistani and chinese members have ridiculed or tried to put down indian achievements. so its a two way process. i can quote everal threads to prove my points.

its up to individuals to appreciate these small little achievements.

 

[SMC]

while i m sure the the comment of some indian members was totally uncalled for, i would like to state this is phenomenon is not restricted to indians alone. there have been several occassions where pakistani and chinese members have ridiculed or tried to put down indian achievements. so its a two way process. i can quote everal threads to prove my points.

its up to individuals to appreciate these small little achievements.

Yo're probably right. But nevertheless, I see this happening way too often now. It's like people only want bad things for each other. Good things happening to others doesn't work for them or something.

 

[ajtr]

truth always hurts, foreign exchange reserve should be increased by investment or money sent by your people living in other country but unfortunately pakistan reserve are increased by loan and aid .which are unsustainable

Out of which about $8 billion belong to IMF which need to be returned within 3 years with interest (nominal though).

 

[My-Analogous]

truth always hurts, foreign exchange reserve should be increased by investment or money sent by your people living in other country but unfortunately pakistan reserve are increased by loan and aid .which are unsustainable

India’s external debt, as at end-March 2010, was placed at US $ 261.4 billion (18.9 per cent of GDP) recording an increase of US $ 36.9 billion or 16.5 per cent over the end-March 2009 level on account of significant increase in IMF liabilities due to additional allocations of SDR, commercial borrowings, NRI deposits and short-term trade credits.

link : Reserve Bank of India

 

[lionheart1]

India’s external debt, as at end-March 2010, was placed at US $ 261.4 billion (18.9 per cent of GDP) recording an increase of US $ 36.9 billion or 16.5 per cent over the end-March 2009 level on account of significant increase in IMF liabilities due to additional allocations of SDR, commercial borrowings, NRI deposits and short-term trade credits.

link : Reserve Bank of India

yes it total external dept of india is 261.+ billion dolors , but it is less that foreign reserve, where as pakistani external dept stands at 58.36 billion dolors and reserve's are around 17 billion dolors now you can compare both the economy

Pak external debt mounts to $58.39b | Pakistan | News | Newspaper | Daily | English | Online

 

[AgNoStiC MuSliM]

Stick to discussing the topic please

 

[ares]

How do you know all 8 billion went to foreign reserve? I believe some went to debt servicing.

Pakistan can not use this money for any other purpose..it is basically just a security deposit to ensure investor don't loose confidence in your country due to your precarious economic situation.

You can not take loan from a bank to pay off the loan to another.

 

[Andross]

Good to see Pakistan improve it's economy I hope it continues to prosper jai ho

 

[SMC]

Pakistan can not use this money for any other purpose..it is basically just a security deposit to ensure investor don't loose confidence in your country due to your precarious economic situation.

You can not take loan from a bank to pay off the loan to another.

Well I was told that it was needed to pay off loans on this forum. For some reason I'd highly doubt that even 50% went to foreign reserve. What I am guessing is that at the very least, 14 billion of the foreign reserve is not from loans and the rest is. It could be more than 14 billion, but 14 billion is the bare minimum.

 

[SMC]

Forex reserves rise to record $17.44 billion
By Reuters
Published: February 18, 2011

KARACHI: Foreign exchange reserves rose to a record $17.44 billion in the week ended February 12, up from $17.31 billion the previous week, the central bank said on Thursday.

Reserves held by the State Bank of Pakistan (SBP) rose to $13.91 billion from $13.76 billion, while those held by commercial banks fell to $3.53 billion from $3.55 billion, said Syed Wasimuddin, chief spokesman for the central bank.

“Foreign exchange reserves rose to a record because of a rise in remittances and increasing exports,” added Wasimuddin.

In the currency market, the rupee weakened on Thursday amid higher dollar demand from importers because of rising international oil prices, but dealers said the rupee is expected to move in a narrow band in the short term.

The rupee closed at 85.45/50 to the dollar, down from Tuesday’s close of 85.25/30. It closed at 84.78/83 to the dollar on Friday, the highest close since May 25, 2010.

Officials and dealers said a record inflow of remittances, strong foreign exchange reserves, healthy exports and a current account surplus were behind the rupee’s gain in value in recent days.

Remittances were recorded at $6.12 billion during the first seven months of fiscal year 2010-11, up 17.7 per cent from the same period last year, according to data from SBP.

In the money market, overnight rates closed at its top level of 13.90 per cent, compared with Tuesday’s close of 11 per cent amid tight liquidity after scheduled outflows of Rs27.3 billion ($319 million). Dealers said there were scheduled outflows amounting to Rs22 billion on Friday.

Published in The Express Tribune, February 18th, 2011.

Forex reserves rise to record $17.44 billion – The Express Tribune

Well there you, some were claiming that reserves need to rise from remittance. Seems like that and exports were behind the rise.

 

[IndianTiger]

Pakistan can not use this money for any other purpose..it is basically just a security deposit to ensure investor don't loose confidence in your country due to your precarious economic situation.

You can not take loan from a bank to pay off the loan to another.

why so serious?