Governor of the State Bank of Pakistan (SBP) Jameel Ahmad has said that the country’s foreign exchange reserves are increasing every week, while Pakistan’s external debt has remained stable at around $100 billion.
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Briefing the National Assembly’s standing committee on the country’s economic situation, the State Bank said Pakistan’s reserves had remained resilient despite making $5 billion in external payments last month.
According to Jameel Ahmad, the country’s foreign exchange reserves are expected to exceed $17 billion during the current month. He added that inflows from the International Monetary Fund (IMF) are anticipated soon, which could further strengthen reserves to a level equivalent to nearly three months of imports.
The central bank governor noted that Pakistan had purchased $27 billion from the open market over the last three years as part of efforts to stabilise foreign reserves and manage external vulnerabilities.
He also highlighted that despite an increase in imports, Pakistan recorded a current account surplus during the first nine months of the ongoing fiscal year, reflecting improved external account management.
Addressing concerns regarding debt levels, Jameel Ahmad stated that Pakistan’s external debt remains at approximately $100 billion, the same level recorded in June 2020. He suggested that maintaining debt stability while improving reserves reflects gradual economic stabilisation.
During the committee session, lawmakers were also informed that the IMF Executive Board is scheduled to meet soon to consider Pakistan’s next economic review. Approval from the board is expected to unlock additional financial support for the country.
Pakistan’s economic managers have repeatedly emphasised reserve accumulation, fiscal discipline and external financing as central priorities for maintaining macroeconomic stability and investor confidence.
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The latest remarks come as Pakistan continues implementing reforms linked to its IMF programme while seeking to strengthen foreign reserves and manage inflationary and external financing pressures.