Pakistan’s foreign reserves rise to a 9-month high thanks to IMF bailout

Pakistanforeign exchange Bookings rose to a nine-month high after the South Asian nation secured a new bailout from the International Monetary Fund last week.

The kitty nearly doubled to $8.73 billion as of July 14, from $4.52 billion in the previous week, the State Bank of Pakistan said Thursday, as tickets came from the multilateral lender, as well as from friendly countries, including Saudi Arabia and the United Arab Emirates. It is the highest level since October, when the central bank had $8.76 billion.