Three days before the deadline, cash-strapped Pakistan will repay $1 billion next week.

Pakistan to repay $1 billion international bond on December 2 . Central bank chief Ahmad Ahmad says country will be in much better shape by end of financial year in June 2023 .

Islamabad: According to sources familiar with the situation, Pakistan's central bank chief declared on Friday that the cash-strapped country would repay a USD 1 billion international bond on December 2, three days before its due date, and that the government's foreign exchange reserves are stable.According to statistics, the central bank had USD 7.8 billion on November 18, but that isn't enough for a month of imports.Ahmad, however, said that the country would be in a much better shape by the end of the financial year in June 2023, with the balance of payments being one of the biggest issues.Raging inflation and difficult to raise tax revenues are also among the major issues, according to the SBP, which has raised its key policy rate by 100 basis points to 16 percent in an effort to combat rising prices, but this would further squeeze the private sector's funding needs.

.
.
.
.