RDA attracts $8.4bn in four years
KARACHI: Pakistan has attracted $8.416 billion in gross inflows through the Roshan Digital Account (RDA) since its launch four years ago.
According to SBP data, out of the total received amount, $1.624bn has been repatriated, while $5.334bn has been utilised locally, and with this, net repatriable liability remained at $1.458bn till the end of July.
Former prime minister Imran Khan launched the RDA on Sept 10, 2020 to reduce the shock of Covid-19. The inflows in the domestic bonds (T-bills, Pakistan Investment Bonds, etc) were too high, but the emergence of the Covid pandemic eroded foreign investment in domestic bonds.
Financial market experts note that while the RDA’s inflows were slower compared to hot money, it has proven to be a reliable alternative for foreign investment in high-yielding domestic bonds, demonstrating a steady and sustainable approach.
Published in Dawn, August 22nd, 2024