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Engineers from Tanzania and China at the Dar es Salaam Port upgrade construction site on July 8 last year. China’s state banks are the largest bilateral creditors of developing countries, where many climate-influencing resources such as forests are. Photo: Xinhua
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Anthony Rowley is a veteran journalist specialising in Asian economic and financial affairs. He was formerly Business Editor and International Finance Editor of the Hong Kong-based Far Eastern Economic Review and worked earlier on The Times newspaper in London
Foreign investors dump $162mln of debt assets in 8 months
Business
February 7, 2021
KARACHI: Foreign investors offloaded around $162 million from government securities, as they preferred to keep exposure to Pakistan’s debt market lower amid soft interest rate and Covid-related uncertainty, analysts said on Saturday.
Foreign investors continued to remain net sellers of the government papers, namely treasury bills and Pakistan Investment Bonds (PIBs) from July 01, 2020 to February 02, 2021, showed the State Bank of Pakistan’s (SBP) data.
The breakdown showed they invested a total of $561.6 million and sold $399.8 million short-term and long-term government papers in the period under review.
Foreigners bought $294.97 million worth of T-bills, while they sold $561.64 million short-term government securities. Moreover, foreign investment in PIBs stood at $104.86 million. Foreign divested $52,000 from long-term instruments.