Pakistan's Forex Reserves Hit Record $21.4 Billion, PM Says
Prime minister attributes the milestone to central bank foreign exchange purchases rather than new external borrowing.
Pakistan's foreign exchange reserves have reached a historic high of $21.4 billion, the prime minister said, expressing confidence in the country's economic trajectory.
According to the Associated Press of Pakistan, the prime minister noted that the latest increase in reserves differs from previous rises in that it was not driven by an increase in external borrowing.
Instead, the prime minister said the growth was primarily supported by the State Bank of Pakistan's (SBP) purchase of foreign exchange.
The report did not provide further details on the timeframe over which the reserves grew or additional context on the broader economic factors involved.
Sources
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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