Foreign reserves of Pakistan may drop below Cambodia’s: report

KARACHI: Amid looming slowdown of Pakistan’s economic growth, the latest report by the Bloomberg indicates that Pakistan is depleting its dollar reserves at the fastest pace in Asia and may soon drop below Cambodia’s foreign reserves – an economy that’s less than a 10th of its size.

According to data released by the International Monetary Fund, reserves have dropped by about a fifth in the past year to reach $13.5 billion in February, while in Cambodia they’ve increased a third to $11.2 billion in January.

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Pakistan’s reserves are expected to drop as much as $2.2 billion by June, according to Insight Securities Pvt as cited by the Bloomberg.

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