Pakistan’s economy has become more resilient to domestic and external shocks thanks to prudent policies and reforms, State Bank of Pakistan (SBP) Governor Jameel Ahmad told foreign investors.
The governor met executives from JP Morgan, Citibank, Deutsche Bank, Barclays, Bank of America, and others at the IMF-World Bank Annual Meetings in Bangkok from October 12 to 17, according to an SBP statement.
Key Numbers Shared With Investors
He said inflation has fallen sharply from FY23 highs to almost within the target range in FY26, despite a major oil price shock. Real GDP growth reached 3.7 percent in FY26 and is projected at 3.5-4.5 percent in FY27.
SBP’s official reserves rose from less than $3 billion in February 2023 to $21.5 billion by October 9, 2026, while its forward liabilities fell from over $5.7 billion to below $1 billion. This came largely from SBP’s own FX purchases, with external debt rising only marginally.
He added that the current account deficit is expected to stay within 0-1 percent of GDP in FY27, while the primary fiscal balance posted a third straight annual surplus in FY26.
The governor also mentioned the staff-level agreement with the IMF on the EFF and RSF reviews, saying reforms have boosted investor confidence and led to sovereign credit rating upgrades.
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