KARACHI: The Central Bank on Thursday stated that total liquid foreign reserves of Pakistan increased to US$ 13,256.6 million with reserves held by State Bank reached $ 8,154.8 million in the week ended on January 05, 2023.
The State Bank of Pakistan, in a statement issued here on Thursday, informed that SBP’s reserves decreased by $66 million to $8,154.8 million due to debt repayments during the week under review.
Total liquid foreign #reserves held by the country stood at US$ 13.26 billion as of January 05, 2024. For details https://t.co/WpSgomnKT3 #SBPReserves pic.twitter.com/X5CdmjyKg5
— SBP (@StateBank_Pak) January 11, 2024
Meanwhile, net foreign reserves held by commercial banks stood at $5,101.8 million, it added.
Total liquid foreign reserves held by the country, in the previous week ended on December 29, 2023, were $ 13,220.6 million. Among them, foreign reserves held by the central bank were $ 8,221.2 million while net foreign reserves held by commercial banks were $ 4,999.4 million.
It is pertinent to mention here that the Executive Board of the International Monetary Fund (IMF) completed the first review of Pakistan’s economic reform programme supported by its Stand-By Arrangement (SBA).
“The Board’s approval allows for an immediate disbursement of SDR 528 million (around US$ 700 million), bringing the total disbursements under the SBA to US$ 1.9 billion,” a Finance Ministry news release said.
The IMF’s nod follows the staff-level agreement reached between the Fund and Pakistan on November 15, 2023, emphasizing the nation’s commitment to implementing key reforms.
