{"id":13125,"date":"2025-01-13T04:04:49","date_gmt":"2025-01-13T04:04:49","guid":{"rendered":"https:\/\/gsrra.com\/?p=13125"},"modified":"2025-01-13T04:04:50","modified_gmt":"2025-01-13T04:04:50","slug":"pakistans-forex-assets-reach-18-7-billion-marking-three-year-high","status":"publish","type":"post","link":"https:\/\/gsrra.com\/?p=13125","title":{"rendered":"Pakistan&#8217;s forex assets reach $18.7 billion marking three-year-high"},"content":{"rendered":"\n<p><strong><em>Rise in forex reserves reflects impact of strict import restrictions and successful debt rollovers, says expert<\/em><\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Country&#8217;s forex assets also include gold reserves of $5.5bn.<\/strong><\/li>\n\n\n\n<li><strong>Commercial bank&#8217;s liquid reserves of $4.7bn not included.<\/strong><\/li>\n\n\n\n<li><strong>Rise in forex reserves due to\u00a0<\/strong><strong>strict import restrictions: expert.<\/strong><\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p>Pakistan&#8217;s total foreign exchange\u00a0assets reached a three-year high of $18.7 billion as of November 2024 resulting in essential support to the country&#8217;s external account,\u00a0<em>The News<\/em>\u00a0reported on Sunday.<\/p>\n\n\n\n<p>According to Topline Securities, the country&#8217;s total foreign exchange assets, comprising liquid reserves and gold, stood at a three-year high of $18.7bn which also includes gold reserves of $5.5bn \u2014 a near-record high courtesy of rising gold prices.<\/p>\n\n\n\n<p>In addition to this, $4.7bn of the liquid reserves are held with commercial banks and are not part of this total FX assets, it added.<\/p>\n\n\n\n<p>Saad Hanif, the head of research at Ismail Iqbal Securities, said the rising trend in the country&#8217;s reserves reflected the impact of strict import restrictions, delays in dividend repatriation, successful debt rollovers with multilateral and bilateral partners, which collectively eased pressure on FX outflows.<\/p>\n\n\n\n<p>He thinks the consistent increase in gold reserves indicates a diversification strategy to strengthen external accounts. Gold has hit multiple all-time highs this year, and Goldman Sachs predicts prices could hit $3,000 per troy ounce by the end of 2025.<\/p>\n\n\n\n<p>&#8220;While these measures have provided temporary stability, sustainable reserve growth will require structural reforms, including export enhancement, attracting foreign investment and improving energy sector efficiency,&#8221; Hanif said.<\/p>\n\n\n\n<p>&#8220;Administrative controls must eventually give way to policy-driven economic stability for long-term resilience,&#8221; he added. Pakistan recorded a current account surplus of $944 million in the five months of the fiscal year 2025, compared with a deficit of $1.67bn during the same period last year. As of January 3, the State Bank of Pakistan&#8217;s (SBP) FX reserves amounted to $11.7bn \u2014 enough to cover over two months of imports.<\/p>\n\n\n\n<p>Pakistan is seeking to secure a $1 billion loan tranche from the International Monetary Fund (IMF) as a part of the $7bn Extended Fund Facility (EFF) programme. Meanwhile, the next IMF review is due this quarter.<\/p>\n\n\n\n<p>This week, Prime Minister Shehbaz Sharif announced that the United Arab Emirates (UAE) agreed to roll over a $2 billion debt due this month.<\/p>\n\n\n\n<p>According to the SBP, out of total external payments of $26.1bn, $10.4bn has already been paid or rolled over. The remaining debt repayment for the fiscal year, excluding planned rollovers, stands at $5bn.<\/p>\n\n\n\n<p>Reference Link:- <a href=\"https:\/\/www.geo.tv\/latest\/584892-pakistans-forex-assets-reach-187-billion-marking-three-year-high\" target=\"_blank\" rel=\"noopener\">https:\/\/www.geo.tv\/latest\/584892-pakistans-forex-assets-reach-187-billion-marking-three-year-high<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rise in forex reserves reflects impact of strict import restrictions and successful debt rollovers, says expert Pakistan&#8217;s total foreign exchange\u00a0assets reached a three-year high of $18.7 billion as of November 2024 resulting in essential support to the country&#8217;s external account,\u00a0The News\u00a0reported on Sunday. According to Topline Securities, the country&#8217;s total foreign exchange assets, comprising liquid [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13126,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[2],"tags":[5885,132,197,36,10117,10118,60,5222],"class_list":["post-13125","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sample-category","tag-bright-future","tag-economy","tag-foreign-exchange-reserves","tag-pakistan","tag-pakistans-forex-assets-reach-18-7-billion-marking-three-year-high","tag-stability-in-economy","tag-geopolitics","tag-positive-signs-of-economy"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/posts\/13125","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13125"}],"version-history":[{"count":1,"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/posts\/13125\/revisions"}],"predecessor-version":[{"id":13127,"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/posts\/13125\/revisions\/13127"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/media\/13126"}],"wp:attachment":[{"href":"https:\/\/gsrra.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13125"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13125"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13125"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}