Governor State Bank of Pakistan Jameel Ahmed met with international investors in Washington D.C. The huddle took place on the occasion of the IMF and World Bank meeting at the events of JP Morgan, Citibank, Jefferies, and other financial institutions.
The State Bank governor informed the participants about the improvement in the monetary and economic situation of Pakistan and was apprised about achieving the goals under the IMF program.
The governor of the central bank said the government is hopeful of signing the IMF's long-term program in the future.
“During the last one year, the inflation has decreased rapidly and in March it reached the lowest level of two years at 20.7 percent,” he appraised the delegation.
The governor of the central bank also projected a decline in inflation reflecting monetary policy and fiscal consolidation and ease of import supply and improved agricultural production.
“Current account deficit has reduced from $3.8 billion to $1 billion in the current financial year from July to Feb,” he said.
The SBP governor said domestic remittances are continuously increasing due to the inflow of funds from legal sources and despite the payment of Rs1 billion in Eurobond in April, the foreign exchange SBP held reserves are stable at $8 billion.
The governor apprised the delegation in Washington inflow of funds from overseas Pakistanis through Roshan digital accounts has increased.
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