Pakistan’s foreign exchange reserves fell below $10bn, threatening to spill over into a fullblown economic crisis unless policy makers secure a loan from the International Monetary Fund. The stockpile decreased by $366mn in the week ended May 27 to stand at $9.72bn, the central bank said in a statement on its website on Thursday. That’s roughly a 50% drop from August and enough to pay for less than two months of imports. The shortage of dollars could worsen as the nation forecasts its trade deficit will widen to a record $45bn in the year ending June. Authorities have raised fuel and electricity prices, a key condition to unlock the remaining $3bn of an existing loan by the multilateral len
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