Latest News for: Foreign reserves


God give us grit

The News International 07 Feb 2023
Pakistan’s debt has surged to over Rs60 trillion, over one-third of it being foreign debt ... The country has also struggled with a large trade deficit, low foreign investment, and a decline in its foreign exchange reserves ... its foreign debt.

Economic crises

Dawn 07 Feb 2023
This causes high inflation, low foreign reserves and a need for IMF loans that demand depreciation, high interest rates and cuts in twin deficits ... Half of the 23 IMF loans since 1958 came after a growth of 5pc to 9pc as foreign reserves fell by 25pc to 50pc despite and due to high growth given low exports.

Russia's oil and gas revenue crashed by nearly 50% at the start of 2023, leading ...

Yahoo Daily News 07 Feb 2023
Russia has been selling foreign currency reserves to help make up the budget shortfall ... Russia has also increased sales of its foreign exchange reserves to address the budget shortfall stemming from the war it launched in February 2022 ... worth of currency reserves sold last month.

Balloon recovery begins as U.S. investigates what China’s leaders knew

Tyler Morning Telegraph 07 Feb 2023
China will resolutely safeguard the legitimate rights and interests of the company concerned, and reserves the right to make further responses if necessary,” Chinese Vice Foreign Minister Xie Feng said, according to a Foreign Ministry statement released Monday.

China makes protest over US shooting down airship

ECNS 07 Feb 2023
Vice-Foreign Minister Xie Feng made "a stern demarche" with the U.S ... Xie said that the Chinese government is closely following the development of the situation, will resolutely safeguard the legitimate rights and interests of Chinese companies and reserves the right to make further necessary responses.

Balloon recovery begins as US mulls what Beijing knew of spy mission 

Hong Kong Standard 07 Feb 2023
China will resolutely safeguard the legitimate rights and interests of the company concerned, and reserves the right to make further responses if necessary,” Chinese Vice Foreign Minister Xie Feng said, according to a Foreign Ministry statement released Monday.

Two RLNG-based power plants: Govt considers selling own 30pc equity

The News International 07 Feb 2023
ISLAMABAD ... However, it is finding hard to bring stakes of foreign investors in Pakistan amid crippling economy of the country. The foreign exchange reserves held by the SBP stood at slightly over $3 billion and the government is preparing a stage to sell out these RLNG based power plants as early as possible. Comments. Comment. .

A partnership of resilience 07 Feb 2023
The latest sign of cooperative diplomacy is China's intent to aid Sri Lanka's foreign exchange reserves, serving as an incentive for other parties to play their part and collectively afford Colombo hope of long-term self-sufficiency ... Hussain is a foreign affairs commentator, author and recipient of the Fulbright Award.

India looks at options to pay defence dues to Russia: stake sale, bonds, 3rd currency

Financial Express 07 Feb 2023
The matter was discussed with Russia as well as internally between officials of the Defence and Finance ministries last year and it was decided that the modalities would be discussed with the Reserve Bank of India. Officials said that even as paying through the foreign currency of ...

PM okays Rs180bn taxes, hike in gas & power tariffs, GST

The News International 07 Feb 2023
PM Shehbaz Sharif photographed on September 27. PID. ISLAMABAD ... It is roughly estimated that the gross foreign exchange reserves might be slashed massively and the Fund was likely to project it reduction from $16 billion to less than $8 billion by the end of June 2023 ... The power sector losses so far proved a hard nut to crack ... Comments. Comment. .

Russia boosts forex reserves

Russia Today 06 Feb 2023
Russian foreign exchange reserves surged by $3.1 billion last week, the Bank of Russia revealed on Thursday ... Russia’s international reserves, which are highly liquid foreign assets held by the Bank of Russia and the country’s government, consist of monetary gold, ...

Companies may find it costlier to raise funds overseas

The Times of India 06 Feb 2023
The concessional withholding tax rate was introduced by the government in 2013 - in the wake of the surge in US treasury yields following investor reaction to the US Federal Reserve's announcement that it would be tapering bond purchases - to attract more foreign flows into Indian debt markets.

Pressure on the rupee recedes

Financial Express 06 Feb 2023
There’s no certainty if RBI will be able to replenish its forex reserve stocks ... As RBI starts rebuilding its lost foreign currency reserves, there is an air of relief ... The singular factor that made a material difference in managing the external account and the rupee was RBI’s forex reserves stockpile that, at its peak, stood at $642.4 billion.

Current account deficit to widen to Nu 75.63B in June this year

Kuensel 06 Feb 2023
…threatening the foreign reserve position for 12 months’ requirement ... As of June 2022, the foreign exchange reserves stood at USD 832.9 million against Nu 1.33B in June 2011, a decrease of 37.5 percent. About 26 percent of the country’s foreign exchange reserve is built on official inflows related to grants and concessional borrowings.

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