Shares at the Pakistan Stock Exchange (PSX) began the week in the red as uncertainty looms on the outlook for the country’s foreign exchange reserves with no clarity on when the pending ninth review of the International Monetary Fund (IMF) will conclude. Pakistan’s forex reserves stood at a historic low of $7.5 billion for the week ending on November 25 — barely enough to cover a month’s imports.
Since then the country has repaid a $1 billion international bond on Friday, three days before its maturity on Monday.
