SBP Fudging Of Forex Reserve Figures Explained By Pakistani Economists

[SunilM]

 

[ziaulislam]

bullshit
rolling loan are still considered as part of reserves

one can argue about reserves held by private banks but in my opinion they count as SBP shouldnt intervene in the first place

PS: i didnt watch video but iguess thats what they would bleb about

 

[Maler]

bullshit
rolling loan are still considered as part of reserves

one can argue about reserves held by private banks but in my opinion they count as SBP shouldnt intervene in the first place

PS: i didnt watch video but iguess thats what they would bleb about

They are saying, SBP has a total of around net $14 billion in foreign currency reserves i.e. around $8 billion of its own reserves + $5.8 billion borrowing from Pakistani private banks (Pakistani private banks has around $6 billion of foreign currency reserves). But Pakistani govt showing a gross figure of around $20 billion in foreign currency reserves, which is not true. Pakistani govt is showing Pakistani private banks foreign currency reserves of $6 billion in national gross $20 billion reserves, which Pakistani private banks don't have on their balance sheet. Because they already lent this amount to Pak Govt!!!!

 

[SunilM]

They are saying, SBP has a total of around net $14 billion in foreign currency reserves i.e. around $8 billion of its own reserves + $5.8 billion borrowing from Pakistani private banks (Pakistani private banks has around $6 billion of foreign currency reserves). But Pakistani govt showing a gross figure of around $20 billion in foreign currency reserves, which is not true. Pakistani govt is showing Pakistani private banks foreign currency reserves of $6 billion in gross $20 billion foreign currency reserves, which Pakistani private banks don't have on their balance sheet. Because they already lent this amount to Pak Govt!!!!

Exactly. Just one thing. The amount of 6 billion dollars is Pakistani Public's deposit which cant be appropriated by SBP as forex reserves. That money belongs to private individual/companies.

Do you know Ishaq dar appointed a nursing home owner as deputy governor of SBP and Presient Nation Bank of Pakistan. What did you expects from a fraudster like DAR and his cronies. This is what they do. Fudge figures.

"KARACHI: Finance Minister Ishaq Dar told the Joint Investigation Team (JIT) probing money laundering allegations that Saeed Ahmed, incumbent president of the National Bank of Pakistan, was running a nursing home in London before his appointment as deputy governor of the State Bank of Pakistan."

https://www.dawn.com/news/1344983