State Bank of Pakistan has 'critically low' reserves

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"Aggressive" action by the State Bank of Pakistan (SBP) must combine with "ambitious" work by the Pakistani government if the country is to prevent its reserves running dry, the International Monetary Fund (IMF) said today.

The IMF approved a disbursement of $555.6 million earlier this week, after it concluded a second review of the implementation of Pakistan's three-year programme.

In today's staff report the Fund described programme performance as "mostly positive", although the SBP initially

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