The country's total foreign reserves in liquid form amount to $12.3 billion.

The State Bank of Pakistan (SBP) experienced a weekly decline of $217 million in foreign exchange reserves, reaching $7.2 billion as of November 17, according to recently released data. The total liquid foreign reserves for the country amounted to $12.3 billion, with commercial banks holding net foreign reserves of $5.1 billion.


The reduction in reserves was attributed to debt repayments, as stated by the central bank. This marks the second consecutive week of a decrease in the dollar stockpile, following a $115 million decline in the previous week.

In July of the current year, the central bank's reserves received a boost when Pakistan received the initial tranche of approximately $1.2 billion from the International Monetary Fund (IMF), following the approval of a new $3-billion Stand-By Arrangement (SBA).

 Additional inflows were received from Saudi Arabia and the UAE. Despite these earlier injections, the SBP reserves have been under pressure due to debt repayments, increased import payments following the easing of restrictions, and a lack of fresh inflows.

In a significant development, the IMF recently announced that its staff and Pakistani authorities had reached an agreement on the first review of the SBA. However, the staff-level agreement is pending approval by the IMF Executive Board.

According to the IMF, upon approval, approximately $700 million will become available, bringing the total disbursements under the program to almost $1.9 billion. Caretaker Finance Minister Dr. Shamshad Akhtar expressed confidence in external financing, stating that the government anticipates increased inflows in December 2023, which would contribute to augmenting foreign exchange reserves.


The State Bank of Pakistan (SBP) experienced a weekly decline of $217 million in foreign exchange reserves, reaching $7.2 billion as of November 17, according to recently released data. The total liquid foreign reserves for the country amounted to $12.3 billion, with commercial banks holding net foreign reserves of $5.1 billion.

The reduction in reserves was attributed to debt repayments, as stated by the central bank. This marks the second consecutive week of a decrease in the dollar stockpile, following a $115 million decline in the previous week.

In July of the current year, the central bank's reserves received a boost when Pakistan received the initial tranche of approximately $1.2 billion from the International Monetary Fund (IMF), following the approval of a new $3-billion Stand-By Arrangement (SBA). Additional inflows were received from Saudi Arabia and the UAE. Despite these earlier injections, the SBP reserves have been under pressure due to debt repayments, increased import payments following the easing of restrictions, and a lack of fresh inflows.

In a significant development, the IMF recently announced that its staff and Pakistani authorities had reached an agreement on the first review of the SBA. However, the staff-level agreement is pending approval by the IMF Executive Board.

According to the IMF, upon approval, approximately $700 million will become available, bringing the total disbursements under the program to almost $1.9 billion. Caretaker Finance Minister Dr. Shamshad Akhtar expressed confidence in external financing, stating that the government anticipates increased inflows in December 2023, which would contribute to augmenting foreign exchange reserves.