Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $30 million to reach $9.466 billion during the week ended on September 6, 2024, according to the latest data released by the SBP.
The total liquid foreign reserves held by the country stood at $ 14.796 billion as of September 6, 2024.
The break-up of the foreign reserves position shows that foreign reserves held by the SBP stood at $9.466 billion whereas net foreign reserves held by commercial banks recorded $5.329 billion.
Pakistan is desperately waiting for the IMF’s approval of the $7 billion Extended Fund Facility (EFF) which is expected to be on the lender’s board agenda on September 25.
IMF spokesperson Julie Kozack confirmed on Thursday that the board’s upcoming meeting and praised Pakistan’s progress. “We are happy to announce that the board meeting is scheduled for September 25,” she said, adding that Pakistan had obtained the required financing assurances from development partners.
