SBP Chief Highlights Resilience of Pakistan’s Economy at IMF Meetings

KARACHI: State Bank of Pakistan (SBP) Governor Jameel Ahmad emphasized the enhanced resilience of Pakistan’s economy against domestic and external shocks, attributing this stability to sustained macroeconomic policies and structural reforms. His remarks came during meetings with foreign investors from leading global financial institutions at the IMF-World Bank Annual Meetings held in Bangkok, Thailand, from October 12 to 17.

During these discussions, Ahmad highlighted the improving macroeconomic conditions and outlook for Pakistan, noting the participation of senior executives from major banks including JP Morgan, Citibank, and Deutsche Bank. He also engaged with bilateral and multilateral partners, other central banks, and global credit rating agencies to discuss Pakistan’s economic trajectory.

The governor’s statements reflect a significant shift in Pakistan’s economic landscape, as inflation has sharply decreased from elevated levels in FY23, nearing the target range for FY26 despite challenges such as a significant oil price shock. Following a contraction in FY23, real GDP growth has gradually improved, indicating a positive trend for the country’s economic recovery.

Looking ahead, the SBP plans to continue its engagement with international financial institutions and investors to further bolster confidence in Pakistan’s economy. The upcoming meetings and discussions will be crucial in shaping the future economic policies and attracting foreign investment.