ISLAMABAD (Dunya News) – Pakistan's foreign exchange reserves have surged to $21.1 billion, the highest level since March 2022, marking a significant milestone for the country.
This achievement reflects sustainable economic growth and strong investor confidence in the country's leadership.
The State Bank of Pakistan's (SBP) reserves are recorded at $15.9 billion, while the country's import cover has now surpassed 2.6 months.
Economic experts stated that the recent increase in reserves is not driven by loans, but rather by local economic growth, reforms, and the restoration of confidence.
Data shows that the external debt-to-GDP ratio has shrunk from 31% to 26%, reflecting improved fiscal discipline and effective reform measures.
Experts further emphasized that the increase in reserves is not a temporary adjustment, but a result of a clear and sustainable economic recovery.
In 2023, the central bank’s reserves had plunged to just $2.9 billion, but they have now increased by nearly five and a half times, reaching approximately $15.9 billion.
Furthermore, there has been a 65% reduction in forward foreign exchange liabilities, which is expected to reduce external pressure in the future. While Pakistan saw a rise in debt and a decline in reserves between 2015 and 2022, the situation has shown a clear improvement since 2022.
Economic experts believed that the reduction in the debt-to-GDP ratio, stronger foreign exchange reserves, increased business confidence, and overall economic stability are key indicators of this progress.
The recent increase in reserves is seen not just as a numerical improvement, but as a sign of a fundamental shift towards sustainable external economic stability.