State Bank of Pakistan - Annual Report 2002-2003

The State Bank of Pakistan has published its Annual Report for the year ended 2002-2003. The SBP said that the increase in forex reserves - through either non-debt creating inflows is extremely positive - has left the country well placed to further lower its debt burden especially through the early-repayment of expensive external debt and liabilities. The annual report also said there was a substantial upsurge in remittances recorded in fiscal year 2003 (77.3 percent growth to reach $4.2 billion

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