The State Bank of Pakistan (SBP) Governor, Jameel Ahmad, claimed that all loan repayments are on schedule and that foreign exchange reserves are projected to rise in the second half of the fiscal year.
In the latest SBP podcast, the governor announced $1.2 billion in loans to two international commercial banks. He stated the banks agreed to restore the money, but he didn’t say when.
He examined the country’s ability to meet international financial obligations and foreign account weaknesses.
In 2023, $33 billion will be reimbursed to foreign stakeholders, including $10 billion in current account deficit and $23 billion in loan repayments.
Pakistan has repaid $6 billion of its $23 billion external debt and rolled over a $4 billion bilateral loan with the help of other countries.
Another $8.3 billion in maturing payments are scheduled to be rolled over, Ahmad said. So the remaining repayment for this fiscal year is $4.7 billion.
This comprises $1.1 billion in foreign commercial loans and $3.6 billion in multilateral loans.
Pakistan has received $4 billion in foreign exchange inflows (excluding rollovers), and the SBP head said Islamabad will continue to make timely loan payments. In contrast, inflows increase in the second half of the fiscal year.
“Pakistan’s foreign exchange reserves are anticipated to expand dramatically in the coming months,” he said.
SBP reserves reached $7.9 billion from November 28 to December 2 after receiving $500 million from AIIB (AIIB).
 Governor, Jameel Ahmad claimed that all loan repayments are on schedule and that foreign exchange reserves are projected to rise in the second half of the fiscal year.){kind=link}