State Bank Governor Jameel Ahmad on Monday said that remittances were at a record $4.1 billion during the month of March. Remittances from overseas Pakistani workers had soared year-on-year in February 2025, reaching $3.12bn. Compared to January 2025, remittance inflows increased by 3.8pc, providing the much-needed financial support to the economy, government reserves and liquidity for importers. For the first nine months of FY25 (July-March), total rem\u00adi\u00adttances have reached $28.07bn, mar\u00adking a substantial 33pc rise compared to the same period a year ago. Speaking at the Pakistan Stock Exchange (PSX) today, the SBP chief highlighted that foreign reserves were now projected to exceed $14bn by June. He also added that foreign debt repayment obligations stood at $26bn for FY25 \u2014 from which $16bn was expected to be rolled over or refinanced, reducing actual repayment pressure to around $10bn. On a positive note, he noted that economic activity had \u201cshown signs of revival\u201d, adding that if agricultural had matched last year\u2019s performance, the country\u2019s GDP growth would have been more than 4.2pc. However, due to a weaker-than-expected agricultural season, Ahmad said GDP growth was now projected to be around three pc. \u201cEvery indictor is indicating that the economic activity has substantially picked up,\u201d he said, adding that it was \u201cnot fully reflected in the growth numbers\u201d because of agriculture. In January, the SBP governor had said that the country was meeting its economic targets, with its debt level and balance of payments still under control. In 2023, Pakistan experienced one of its worst economic crises in decades and all-time high inflation, with its foreign exchange reserves dwindling to $4.6bn \u2014 barely enough to cover three weeks\u2019 worth of imports. This prompted the government to seek an International Monetary Fund (IMF) bailout to support its balance of payments (BoP) crisis. The IMF, which approved a $7bn rescue package for Pakistan, expects the country\u2019s growth rate to gradually improve to 4.5 per cent by 2029.<\/p>\n","protected":false},"excerpt":{"rendered":"
State Bank Governor Jameel Ahmad on Monday said that remittances were at a record $4.1 billion during the month of March. Remittances from overseas Pakistani…<\/p>\n","protected":false},"author":1,"featured_media":23991,"comment_status":"registered_only","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[8],"tags":[],"class_list":["post-23990","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news-updates"],"aioseo_notices":[],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=\/wp\/v2\/posts\/23990","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=23990"}],"version-history":[{"count":0,"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=\/wp\/v2\/posts\/23990\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=\/wp\/v2\/media\/23991"}],"wp:attachment":[{"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23990"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23990"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23990"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}