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Pakistan is set to meet some critical targets IMF – c.bank chief sets

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KARACHI, Pakistan, Oct 13 – Pakistan’s central bank has met an end-September deadline for a forward book target of $4.2 billion agreed with the IMF and is comfortably placed to meet others.

The South Asian nation is trying to navigate a tricky path to economic recovery under a caretaker government in the wake of a $3-billion IMF loan programme, approved in July, that helped avert a sovereign debt default.

Friday’s remarks came in a statement on comments by Jameel Ahmad, governor of the State Bank of Pakistan (SBP), at events held on the sidelines of IMF and World Bank meetings in Morocco.

“The foreign exchange buffers are improving, with both build-up in reserves and reduction in forward foreign exchange liabilities,” the central bank said in the statement, describing comments Ahmad made to investors.

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