ISLAMABAD – SBP Ready To Take Required Action Amidst Coronavirus Panic. Due to the Novel Coronavirus COVID-19, central banks around the world are adopting measures to combat the pandemic. Similarly, State Bank of Pakistan has also said that it would take action to support the financial markets.
According to details, the outbreak of coronavirus has not been just a health emergency but a financial one as well. Since global markets seem clueless against coronavirus as of yet. Which has resulted in the loss of billions of dollars around the world.
Governor State Bank of Pakistan, Syed Reza Baqir, on Monday, talked about this. He said, “the central bank is monitoring the situation closely. It remains ready to take any actions needed to address disorderly market conditions. The outflow of ‘hot money’ has picked up momentum and divested amount reached about one billion dollars.”
According to latest data released by State Bank of Pakistan on Thursday, cumulatively foreign investors have divested some $972 million. This is from their investments in government securities including Treasury Bills and Investment Bonds during this fiscal year. SBP Ready To Take Required Action Amidst Coronavirus Panic.