Modest Growth in SBP Reserves: A Critical Juncture for Pakistan’s Digital Economy
The State Bank of Pakistan’s (SBP) foreign exchange reserves saw a marginal increase of $46 million, reaching $11.721 billion for the week ending June 13. This modest rise leaves a significant gap against the central bank’s $14 billion target for June 30, raising questions about immediate economic stability and potential implications for the burgeoning digital finance sector.
State Bank Keeps Policy Rate Steady at 11% as Growth Strengthens and Inflation Stabilizes
The State Bank of Pakistan has maintained its policy rate at 11% in the latest monetary policy decision, signaling confidence in economic recovery and inflation outlook. Despite rising trade deficits and external risks, the central bank projects continued economic growth into FY26, underpinned by private sector momentum and fiscal reforms.
Pakistan Sees Record-Breaking $2.8 Billion in Workers’ Remittances for April 2024
Good news for Pakistan’s economy! Workers abroad sent home a record-breaking $2.8 billion in April 2024, according to data from…