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Pakistan reserves rise to $ 16.12billion

Pakistan newsPositions in State Bank of Pakistan (SBP) rose to 12.37 billion dollars from 12.35 billion dollars while held by commercial banks fell to 3.75 billion dollars from 3.76 billion dollars, said Syed Wasimuddin spokesman SBP leaders.

Pakistan forex reserves rose to a record 16.77 billion dollars, and the week ending 2 July thanks to foreign direct value of $ 750,000,000 during the week. previous record was U.S. $ 16.45 billion in October 2007.

In May, Pakistan has received $ 1,130,000,000, the fifth edition of the $ 11 billion International Monetary Fund (IMF) loan. Pakistani officials in Washington crisis talks the IMF focuses on the floods began in July and the IMF predicted the disaster would be "significant and lasting economic impact.

Pakistan, agreed on $ 11 billion IMF loan program in 2008. If the IMF is committed to facilitate the objectives of the loan, or extend the repayment period, it will facilitate the country’s economic burden. -Reuters

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