Inflation down, foreign exchange reserves up, economy improving: Governor State Bank of Pakistan

Washington: State Bank of Pakistan Governor Jameel Ahmed has said that inflation has come down, external accounts have become surplus, and foreign exchange reserves are increasing. He was speaking at a meeting with global investors in Washington.
Jameel Ahmed’s meetings were with JP Morgan, Standard Chartered, Deutsche Jefferies, and other major financial institutions on the sidelines of the Spring Meetings of the IMF and the World Bank.
He said that the growth of Pakistan’s economy is likely to be 3 percent this fiscal year, and we are focusing on policy reforms to maintain economic stability.
The governor of the State Bank told global investors that from the highest level of inflation to the lowest level in 60 years, foreign exchange reserves have been improved not by borrowing as in the past, but by reducing the debt-to-GDP ratio.
He added that the target is to take foreign exchange reserves to $14 billion by June, and international rating agencies are also confirming the improvement in Pakistan’s economy.