Governor of the State Bank of Pakistan (SBP), Jameel Ahmad, showcased Pakistan’s improving economic outlook during high-level meetings at the IMF-World Bank Spring Meetings. Ahmad shared Pakistan’s progress in stabilizing its economy, including controlled inflation, growing reserves, and structural reforms. He highlighted these advancements to senior executives from top financial institutions like JP Morgan, Standard Chartered, and Deutsche Bank.
Ahmad emphasized the significant decline in inflation, which dropped to a historic low of 0.7% in March 2025. Core inflation also decreased from over 22% to a manageable single-digit figure. He projected that inflation would stabilize within the government’s target range of 5 to 7% in the coming months.
The SBP governor also detailed improvements in Pakistan’s foreign exchange reserves. These reserves have more than tripled since February 2023, without relying on additional external debt. Instead, they were boosted through proactive foreign exchange purchases, supported by a surplus in the external current account.
Looking ahead, Ahmad projected a 3% GDP growth for the fiscal year 2025. He also reaffirmed Pakistan’s commitment to ongoing structural reforms and macroeconomic stability. With these efforts, he expressed confidence in Pakistan’s ability to achieve sustainable growth and socioeconomic progress.