China hiding trillions of dollars of forex reserves
IANS -
Those funds have been hidden in the state banks, and largely escaped scrutiny, Brad W. Setser, the Deputy Assistant Secretary for International Economic Analysis in the US Department of the Treasury, wrote in The China Project. Institutions that report to China’s central government probably have closer to $6 trillion in foreign assets than the $3.12 trillion reported in December 2022.
Pakistan forex reserves fall to near 3-year low
IANS -
The foreign reserves held by the State Bank of Pakistan dropped by $555 million or 6.6 per cent on a weekly basis due to increased debt payments and a lack of external financing, The News reported. The central bank's data showed reserves plunged to their lowest level since October 2019. Pakistan's total liquid foreign reserves fell by $648 million or 4.6 per cent to $13.561 billion.
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