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Children Are Moving Money Outside of Pakistan, Says A Senator

On Wednesday, Senator Mohsin Aziz disclosed that, according to reports, youngsters are being used to transfer money out of the nation during a meeting of the Senate Standing Committee on Finance, which is chaired by Senator Saleem Mandviwalla.

The meeting heard an update from the State Bank of Pakistan (SBP) on Pakistan’s hyperinflation, interest rates, and foreign exchange prices.

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The governor of the SBP stated that Pakistan’s economy is dealing with both domestic and international issues, and that the current account deficit is projected to decrease from $10 billion this year to $7 billion by the end of the fiscal year.

The governor disclosed that for the current fiscal year, debt repayments totaled around $2.4 million. Pakistan’s foreign exchange reserves are expected to surpass $4.3 billion by the following weekend. Yet, this year’s annual inflation rate is predicted to be 26.5 percent.

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