SBP report points out improved economic indicators in FY24
A labourer bends over as he carries packs of textile fabric on his back to deliver to a nearby shop in a market in Karachi on June 24, 2022. — Reuters KARACHI: Amid the government’s efforts to steer the country out of the various economic quagmires, a report issued by the State Bank of Pakistan […]
IMF engagement boosts Pakistan’s macroeconomic conditions: SBP
A brass plaque of the State Bank of Pakistan is seen outside of its wall in Karachi, Pakistan December 5, 2018. — Reuters Pakistan’s macroeconomic conditions saw improvement in the fiscal year 2023-24, driven by several factors, including effective collaboration with the International Monetary Fund (IMF). In its Annual Report on the State of Pakistan’s […]
Forex reserves strengthen to 2-month import cover: SBP chief
Governor of State Bank of Pakistan Jameel Ahmad. — SBP website. Pakistan’s foreign exchange reserves jumped to a two-month import cover after receiving the first installment from the International Monetary Fund’s $7 billion Extended Fund Facility, State Bank Governor Jameel Ahmed said on Wednesday, giving the fiscally-challenged country’s external position a much-needed boost for now. […]
SBP receives first tranche under IMF’s $7bn loan programme
The logo of the State Bank of Pakistan (SBP) is pictured on a reception desk at the head office in Karachi, Pakistan July 16, 2019. — Reuters The State Bank of Pakistan (SBP) received the first tranche of SDR 760 million (approximately $1.03 billion) from the International Monetary Fund (IMF) on Friday as part of […]
SBP issues clarification on new banknote series art competition
The winner of the Rs20 note designed by Haroon Khan for the new banknote series art competition organised by the State Bank of Pakistan. — SBP The State Bank of Pakistan (SBP) has clarified the misinterpretation over the new banknote series art competition designs and winners, stating that the results were announced to appreciate the efforts […]
SBP currency design competition: Shortlisted design sparks backlash on social media | The Express Tribune
The State Bank of Pakistan (SBP) recent announced the winners of a competition to design new currency notes, has sparked an online debate. One of the winning design, particularly the Rs 5,000 note, has been criticised by some social media users over the depiction of the internationally-recognised disputed territory of Jammu and Kashmir region. While […]
SBP announces winners of banknote design competition
The second place winner of the Rs500 note designed by Hadiya Hassan for the art competition for the new banknote series. — SBP The State Bank of Pakistan has revealed winners of the art competition for the new banknote series. The art contest by SBP was announced in March to have “innovative and thematic design ideas” […]
SBP head says govt plans to secure $4bn from Middle Eastern banks
SBP Governor Jameel Ahmad addressing a press conference in Karachi on January 29, 2024, in this still taken from a video. — Facebook/@StateBankofPakistanPakistan seeks to raise $4bn from ME banks by next fiscal year KARACHI: State Bank of Pakistan (SBP) Governor Jameel Ahmad has stated that the government wants to raise up to $4 billion […]
SBP to replace all currency notes by year-end, says governor | The Express Tribune
The governor of the State Bank of Pakistan (SBP), Jameel Ahmad, has announced that all currency notes will be replaced by the end of this year. The statement was made during a briefing at the Senate’s Standing Committee on Finance, chaired by Senator Saleem Mandviwalla on Wednesday. Ahmad revealed that the state bank is preparing […]
SBP slashes policy rate to 19.5% as inflationary pressures ease
SBP Governor Jameel Ahmad addressing a press conference in Karachi on July 29, 2024. — Screengrab via Geo News The State Bank of Pakistan (SBP) on Monday cut the interest rate from 20.5% to 19.5%, marking the second consecutive reduction, in response to easing inflation and market expectations. Addressing a press conference after Monetary Policy […]