Pakistan’s Foreign Reserves Surge to $15.98 Billion

Pakistan’s total liquid foreign reserves have reached a remarkable **$15,982.9 million**, marking the highest level in **27 months**. This surge is largely attributed to the recent receipt of over **$1 billion** from the International Monetary Fund (IMF) under the Extended Fund Facility (EFF) program.

The latest report from the State Bank of Pakistan indicates that the central bank’s foreign reserves rose to **$10,701.7 million**, reflecting an increase of **$1,168 million**. This figure includes **$1,026.9 million** received from the IMF in the week ending September 27, 2024.

Additionally, net foreign reserves held by commercial banks were noted at **$5,281.2 million** during the same period.

These improvements in foreign reserves are the result of collaborative efforts by the federal government and the central bank. The reserves have remained consistently above **$14 billion** since the start of the fiscal year 2024-25, showing a slow but steady upward trend that pushed the total reserves close to **$15 billion** in the previous week.

In comparison, Pakistan’s total liquid foreign exchange reserves were recorded at **$16,195.6 million** at the end of June 2022. The current level of **$10,701.7 million** represents the highest amount of liquid forex reserves held by the State Bank in nearly **29 months**, since **April 16, 2022**, when reserves reached **$10,885.7 million**.

For reference, total liquid foreign reserves stood at **$14,873.1 million** for the week ending September 20, 2024, with the State Bank holding **$9,533.6 million** and commercial banks holding **$5,339.5 million**.