Karachi: Pakistan will receive a total of $4 billion from three financial institutions to help address the economic challenges posed by the floods.
According to the State Bank, 1 to 2 billion dollars will be received from the World Bank, 1.5 billion dollars from the Asian Development Bank and 50 million dollars from the Asian Infrastructure Investment Bank.
The central bank says that the meeting of the Asian Development Bank will be held on October 25, in which the provision of one and a half billion dollars for Pakistan will be approved. 60 million dollars have been paid in the form of foreign loans in October alone.
The State Bank denied that dollars were artificially sold to improve the value of the rupee, but strict measures were taken by the State Bank to strengthen the rupee.
According to the State Bank, the current account deficit is expected to be 3% of the total national income according to the previous review, while the inflation rate is likely to be between 18-20%.
