Investors' confidence will increase, rupee's decline may slow down - Press Release issued by Pakistan Economy Watch.

Islamabad -- September 20, 2022 (PPI-OT)

Following is the text of press release issued by Pakistan Economy Watch (PEW)

Quote

The Pakistan Economy Watch (PEW) on Tuesday said the rollover of debt by Saudi Arabia will reduce the problems of Pakistan and improve the confidence of investors.

The extension in the return period of three billion dollars kept in Pakistan by Saudi Arabia may also reduce the speed of fall of the rupee, it said.

Pakistan received this amount on November 2021 and was supposed to return it on December 5 but now the period of return has been extended by one year which is a good decision by a friendly country, said Brig. (retd) Aslam Khan, Chairman PEW.

In a statement issued here today, he said that Pakistan's foreign exchange reserves are currently eight and a half billion dollars, which are only enough for forty days of imports, which is the main reason for the pressure on the rupee.

Aslam Khan said that if China and the United Arab Emirates also renew their loans, Pakistan's woes, which have been marred by extreme conditions, high oil and commodity prices, floods and political instability, could ease.

Floods have rendered all...