By Jawad Ahmed ISLAMABAD, May 18 (INP-WealthPK): A steady stream of inflows into the Roshan Digital Account (RDA) from overseas Pakistanis has given some respite to the government amid the depleting foreign exchange reserves, reports WealthPK. Inflows through the RDA topped $4 billion by April 2022, indicating the rising trust of Pakistanis living abroad in the initiative. In the 20 months after the State Bank of Pakistan launched the initiative, the total inflows reached $4.17 billion from $3.92 billion in the previous month of March. Source: State Bank of Pakistan According to the SBP, in April 2022, $245 million was deposited in the RDA compared to an inflow of $290 million in March 2022, showing a decrease of over 15.5% month-on-month. In an attempt to encourage foreign investment, the government had issued the Naya Pakistan Certificates (NPCs), a bond issued to invite overseas Pakistanis to invest in their country of origin. Since then, nearly 66% of the total, or $2.753 billion deposited in the RDA, have been invested in the high-return NPCs. Source: State Bank of Pakistan/WealthPK Research The inflows come from 175 countries, according to the data. By the end of April 2022, the total number of RDA accounts had grown to 403,750. According to the SBP, barely 1% of total funds, or $38 million, has been invested on the Pakistan Stock Exchange through RDA. The government is in danger of emptying its foreign exchange reserves due to hefty import bills and a rising current account deficit. Pakistan's foreign exchange reserves hit $10.5 billion at the end of April, down from $16.39 billion in February 2022, and are rapidly dwindling. However, the inflows through RDA provide some relief to the government. Economists believe that the RDA initiative to attract overseas Pakistanis to send remittances to their country would help the government deal with its external issues. The RDA has shown to be a reliable source of support during financial difficulties, but managing the reserve's constant depletion necessitates a comprehensive economic programme. According to financial analysts, the restoration of the International Monetary Fund’s loan facility for Pakistan would help the country alleviate its financial difficulties. This measure would not only assist in maintaining the country's foreign exchange reserves, but it will also open up avenues of foreign exchange inflows from other sources, thus giving confidence to foreign investors.