- Foreign foreign reserves in the country in the country are $ 15.95 billion.
- Trade banks’ dollars reserves amounted to $ 4.75 billion.
- Refunds of external debt exert pressure on Forex’s reserves.
The exchange reserves, owned by the State Bank of Pakistan (SBP), increased by $ 35 million during the week ending on February 14, reaching 11.20 billion dollars, the last figures showed Thursday, in medium of continuous pressure on the country’s external financing needs.
The country’s foreign foreign reserves amounted to $ 15.95 billion in the period examined. The central bank, however, did not specify the source of these entries. Meanwhile, the reserves in dollars of commercial banks amounted to $ 4.75 billion.
The central bank’s exchange reserves have decreased $ 252 million to $ 11.17 billion during the closed week on February 7, due to reimbursements for external debt.
The total liquid foreign reserves held by the country dropped $ 181 million to $ 15.863 billion. However, reserves of commercial banks jumped from $ 70 million to $ 4.696 billion in the previous week.
The country’s outside account has improved due to an increase in funding and an improvement in exports. However, reimbursements of the external debt exert pressure on Forex reserves.
Earlier this month, Fitch Ratings said that Pakistan’s external financing needs will remain significant in the coming year, despite progress in the reconstruction of its exchange reserves.
The country is due to reimburse more than $ 22 billion in external debt during the year 2025, including nearly $ 13 billion in bilateral deposits, said Fitch. “Securing sufficient external funding remains a challenge, given the important deadlines and existing lenders,” said Credit Ratings Agency.
Pakistan is subject to reforms as part of an IMF program of $ 7 billion, which is in place for its first review later this month. The program aims to help Pakistan to solve deeply rooted economic problems such as its major tax and current deficits.
“The deterioration of external liquidity, for example, linked to delays in IMF criticism, could lead to negative action,” said the rating agency, noting that Pakistan has progressed in the reconstruction of its reserves of Change, surpassing the objectives set by the IMF.