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Karachi, October 28, 2024 – The State Bank of Pakistan (SBP) reported a significant 85% rise in the repatriation of profits and dividends by foreign investors during the first quarter of the fiscal year 2024-25, reflecting a sharp increase in the outflow of funds.
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Pakistan is exploring new avenues for financing by targeting the Chinese market for its inaugural Panda bond issuance. Finance Minister Muhammad Aurangzeb revealed this intention during a recent meeting with China’s Vice Minister of Finance, Liao Min, on the sidelines of the World Bank Group (WBG) and International Monetary Fund (IMF) annual meetings in Washington.
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Karachi, October 25, 2024 – Jameel Ahmad, Governor of the State Bank of Pakistan (SBP), met with international rating agencies and global investors during events hosted by prominent financial institutions, including Standard Chartered, JP Morgan, Bank of America, and Jefferies. These meetings took place on the sidelines of the 2024 IMF-World Bank annual gatherings in Washington, DC.
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Karachi, October 24, 2024 – Pakistan’s foreign exchange (forex) reserves saw a reduction of $94 million in the week ending October 18, 2024, according to data released by the State Bank of Pakistan (SBP) on Thursday. The country’s total forex reserves now stand at $16.017 billion, down from $16.111 billion the previous week, marking a modest but notable decline.
(more…)Islamabad – In a pivotal address on Wednesday, Federal Minister for Finance Muhammad Aurangzeb underscored the urgent need for the International Monetary Fund (IMF) to integrate social protection mechanisms into its lending frameworks, particularly for economically vulnerable nations.
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Karachi, October 21, 2024 – The State Bank of Pakistan (SBP) announced on Monday a remarkable increase in foreign direct investment (FDI), which surged by over 48% in the first quarter (July-September) of the fiscal year 2024-25.
(more…)Karachi, October 21, 2024 – Pakistan’s current account deficit sharply contracted by a staggering 92% year-on-year (YoY) in the first quarter of the fiscal year 2024-25, according to data released by the State Bank of Pakistan (SBP) on Monday.
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Karachi, October 20, 2024 — The State Bank of Pakistan (SBP) has reported a staggering 43.3% surge in Pakistan’s interest payments during the fiscal year 2023-24. According to the SBP’s latest report, total interest expenditures reached an alarming Rs 8.2 trillion, up from Rs 5.7 trillion in the previous year, exerting immense pressure on the country’s fiscal health.
(more…)Karachi, October 17, 2024 – In a positive turn for Pakistan’s economic stability, the country’s net foreign exchange (forex) reserves saw a modest uptick of $64 million by the week ending October 10, 2024, as reported by the State Bank of Pakistan (SBP) on Thursday.
(more…)Karachi, October 17, 2024 – The State Bank of Pakistan (SBP) has projected the country’s gross domestic product (GDP) growth at 3.5% for the fiscal year 2024-25, just shy of the government’s target of 3.6%.
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