Foreign exchange reserves reach $21.5 billion, expected to hit $23bn by December

KARACHI: State Bank of Pakistan Governor Jameel Ahmad has said that Pakistan’s foreign exchange reserves have risen to $21.5 billion, and further increases are expected in the coming months.

According to him, the country’s foreign exchange reserves are expected to reach $23 billion by December and $25 billion next year.

The State Bank Governor said the present level of foreign exchange reserves has reached the global benchmark. He expressed the hope that steps would be taken in the coming days to improve the reserves position further.

He said Pakistan’s foreign debt currently stands at about $107 billion. His statement also mentioned the interest paid on foreign debt.