KARACHI – State Bank of Pakistan (SBP) Governor Jameel Ahmad on Monday credited Pakistan’s economic recovery to difficult but necessary measures taken by both the government and central bank, while speaking at the launch of the “We Finance Code” initiative.
Governor Ahmad acknowledged recent economic challenges but emphasized that decisive policy actions have yielded positive results, with inflation now at its lowest level and the current account shifting to surplus. “This hard-won stability gives us the foundation to build a sustainable economy,” he said at the event supported by the Asian Development Bank.
The SBP chief’s remarks come as Pakistan shows early signs of economic stabilization following IMF-backed reforms, including interest rate hikes and fiscal tightening. While stopping short of declaring victory, Ahmad’s comments suggest confidence in the current trajectory despite earlier hardships.
With stabilization measures taking hold, the governor stressed the need to capitalize on this progress by transitioning toward long-term economic sustainability, though he provided no specifics on upcoming policy directions. The “We Finance Code” initiative launched at the event aims to promote financial inclusion through digital solutions.
Analysts view Ahmad’s statement as an attempt to build public confidence in economic policies ahead of potential new IMF negotiations, while acknowledging that challenges like high debt servicing and energy sector reforms remain unresolved.