business

August 18, 2017

Bold steps needed to check falling forex reserves

KARACHI: The country’s foreign exchange reserves are feared to further deteriorate if the policymakers failed to take ‘orthodox’ measures to plug up bleeding balance of payments, analysts warned on Thursday.   An eminent economist said the reserves fell $5 billion since October last year, which was approximately 30 percent of the total foreign exchange reserves of State Bank of Pakistan . “Despite a massive borrowing from external sources, the country is...