Pakistan’s total foreign exchange reserves have reached $16.19 billion, according to an announcement by the State Bank of Pakistan Governor, Jameel Ahmed.
In an important step to ease the financial burden on businesses and individuals, the central bank has decided to lower the interest rate from 13% to 12%. This move is aimed at making borrowing more affordable and encouraging economic activity across the country.
In another positive development, Pakistan’s current account deficit, which had been a major economic concern, recorded a surplus of $58.2 million in December 2024. This shift indicates a gradual improvement in the country’s economic situation and reflects efforts to stabilize external accounts.
Governor Jameel Ahmed also shared more good news, announcing a further reduction in the interest rate by 1%. This additional cut is expected to help stabilize the economy, manage inflation, and provide support for sustainable economic growth.
These measures demonstrate the government and central bank’s commitment to addressing financial challenges and creating a more stable economic environment for the people of Pakistan.