IMF tranche propels Pakistan’s forex reserves to $8.27bn

The total liquid foreign currency reserves of Pakistan, including the reserves held by banks other than the SBP, stood at $13.341bn

The State Bank of Pakistan (SBP) has reported a increase in its foreign exchange reserves, marking a rise of $243 million within a week.

According to the data released by the central bank on Thursday, the reserves held by the SBP as of January 19 amounted to $8.27 billion, up from $8.027 billion on January 12.

This increase is largely attributed to the receipt of the second tranche of $705 million from the International Monetary Fund (IMF), which is part of a broader $3 billion Stand-By Arrangement (SBA) with Pakistan. Additionally, the central bank has successfully managed the government’s external debt repayments in this period.

In a wider context, the total liquid foreign currency reserves of Pakistan, including the reserves held by banks other than the SBP, stood at $13.341 billion. This figure represents an increase of $196 million compared to the previous week. However, it is important to note a decrease in the net reserves held by other banks, which fell by $47 million to a total of $5.071 billion.

The recent developments in Pakistan’s foreign exchange reserves demonstrate the country’s effective financial management and its active collaboration with international financial entities like the IMF.

 

Monitoring Desk
Monitoring Desk
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