Pakistan's Economic Outlook Brightens: Debt and Payments Under Control

The State Bank of Pakistan reports that the country’s debt and balance of payments are stable, despite past challenges. External debt remains unchanged from 2022, with improvements in foreign debt volume. Initiatives to pay short-term debt with long-term funds should bolster the balance and economic confidence.

Pakistan's economic outlook is showing signs of improvement, according to the State Bank of Pakistan. Governor Jameel Ahmed assured that both the nation's debt level and balance of payments have stabilized, achieving current economic targets. He confirmed that the foreign debt has maintained its level from 2022.

Governor Ahmed highlighted a significant improvement in Pakistan's foreign debt volume, which stood above USD 100.08 billion. By tapping into multilateral institutions and refinancing short-term debt with long-term options, the Bank aims to enhance debt servicing and balance of payments.

Amidst previous challenges, the central bank is optimistic about future economic stability. With expectations of a current account surplus by December and increased remittances, Pakistan aims for better inflation and economic conditions by 2025.

(With inputs from agencies.)