Pakistan to borrow $625 mln from consortium of banks
ISLAMABAD, Sept 24
ISLAMABAD, Sept 24 (Reuters) - Pakistan will borrow $625 million from a consortium of seven local and foreign banks to boost reserves and stem a slide in the rupee currency, a senior finance ministry official said on Tuesday.
"An agreement has been reached between the government and the consortium of seven banks, the borrowing is being made to boost foreign exchange reserves and stem the rupee slide," the official, Rana Asad Amin, told Reuters. (Reporting by Syed Raza Hassan; Editing by Clarence Fernandez)
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