The State Bank of Pakistan (SBP) faces the challenge of generating an additional $2.5 billion to meet the revised $14 billion target set by the International Monetary Fund (IMF) for the end of the current fiscal year.
Currently, Foreign exchange reserves held by the SBP recorded $11.516 billion for the week ended May 23.
Experts have expressed skepticism over the likelihood of reaching $14 billion goal within the final month of FY25. Pakistan anticipates receiving $1.4 billion in climate funding, already approved by the International Monetary Fund (IMF) under its Resilience and Sustainability Facility (RSF).
Financial sector sources also suggest that Pakistan may have secured a $1 billion agreement with the United Arab Emirates (UAE), although details remain unofficial.
Bankers estimate that Pakistan requires over $5 billion in dollars to cover debt servicing obligations in the closing month of the fiscal year, but no official figures have been released.
Additionally, media reports claim that China has assured the rollover of another $3.5 billion loan, though this has not been officially confirmed.
Overall, Pakistan’s total foreign exchange holdings stand at $16.636 billion, which includes $5.12 billion held by commercial banks.
