Friday, October 10, 2008 By our correspondent ISLAMABAD: Pakistan’s precious foreign currency reserves improved by $186 million in one week’s period and went up to $8.321 billion after receiving $500 million tranche from the Asian Development Bank, official data released by the central bank showed on Thursday. Till the Feb 18 elections when PPP won the general elections, the country’s foreign reserves stood at over $14 billion which nosedived to $8.321 billion on October 4, 2008, registering a decrease of around $6 billion in the last seven months. The Zardari-led government is making all out efforts to get dollar inflows from all possible avenues including its initiatives of Friends of Pakistan in order to control downslide of macroeconomic indicators, which is posing threat of possible technical default. Except the ADB’s...
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