SBP Projects 3.25% GDP Growth for FY26 Amid Inflation and Structural Challenges
The SBP projects Pakistan’s GDP growth at 3.25% for FY26 while warning of inflation above 7% in H2. The report highlights structural weaknesses, fiscal and external pressures, and the need for reforms to sustain macroeconomic stability and private investment.
Pakistan’s Foreign Reserves Inch Up to $19.81 Billion Amid Optimism Over IMF Inflows
Pakistan’s foreign exchange reserves increased slightly to $19.81 billion by October 3, 2025, as SBP reserves rose by $20 million. The gain comes ahead of expected IMF inflows, signaling cautious optimism for external sector stability.
RDA inflows surge 20% to $196 million in September, total inflows cross $11.1 billion
Roshan Digital Account inflows rose 20% month-on-month to $196 million in September, pushing cumulative inflows past $11.1 billion as the number of accounts reached 862,357, according to the State Bank of Pakistan.
SBP Reserves Edge Up by $20 Million, Reflecting External Stability
Pakistan’s foreign exchange reserves recorded a modest weekly increase of $20 million, reaching $14.42 billion at the SBP level. The stability follows a $500 million Eurobond repayment, signaling external account resilience.
IMF-Pakistan Staff-Level Agreement Delay Puts $1.25 Billion Loan Tranche on Hold
The delay in finalizing the staff-level agreement between IMF and Pakistan has postponed the release of $1.25 billion in loan tranches, with both sides expected to resolve remaining issues within weeks.
Workers’ Remittances Climb 8.41% to $9.5 Billion in First Quarter of FY26
Workers’ remittances to Pakistan grew 8.41% year-on-year to $9.5 billion in the first quarter of FY26, with Saudi Arabia and UAE leading inflows, boosting foreign exchange reserves and external account stability.
State Bank of Pakistan Maintains Special Cash Reserve Account Rate at 3.27% for October 2025
The State Bank of Pakistan has kept the Special Cash Reserve Account rate at 3.27% for October 2025, maintaining stability for U.S. dollar-denominated deposits and supporting liquidity management across the banking system.
Pakistan Plans $750 Million Financing Drive with First Panda Bond Launch
Pakistan is preparing to raise $750 million through commercial borrowing and its first-ever Panda Bond issuance, supported by ADB and AIIB guarantees, to strengthen reserves ahead of an IMF review.
Pakistan’s External Account Shows Improvement with Strong Export and Remittance Growth
Pakistan’s external account deficit narrowed in July FY2026 compared to last year, supported by higher exports, rising remittances, and stronger IT inflows, despite an expanding trade deficit due to higher imports of petroleum and food products.
State Bank of Pakistan’s FX Intervention Reaches $522 Million in May 2025
The State Bank of Pakistan recorded net foreign exchange purchases worth $522 million in May 2025, marking an increase from April’s $473 million. Since June 2024, the central bank’s cumulative interventions have reached $7.75 billion, reflecting ongoing efforts to stabilize the interbank market.