Pakistan Pioneers Digital Finance with Central Bank Digital Currency Pilot
Pakistan's central bank is set to pilot a central bank digital currency as part of wider digital finance reforms. Governor Jameel Ahmad announced at the Reuters NEXT Asia summit that efforts are underway to stabilize inflation and boost foreign exchange reserves, alongside ongoing IMF program commitments.
- Country:
- Pakistan
Pakistan's central bank is taking significant strides in digital finance by preparing to launch a pilot for a central bank digital currency (CBDC). Governor Jameel Ahmad highlighted this during a panel discussion at the Reuters NEXT Asia summit held in Singapore.
Ahmad detailed that Pakistan is sustaining a tight monetary policy to stabilize inflation within a medium-term target. He noted that foreign exchange reserves have surged to $14.5 billion, signaling positive economic momentum.
The governor also confirmed the continuation of the ongoing International Monetary Fund (IMF) program, which remains on track. This initiative is part of broader reforms in digital finance aimed at fostering economic stability and growth.
(With inputs from agencies.)
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