Pakistan, Oct. 15 -- The State Bank of Pakistan (SBP) Governor Jameel Ahmed said that economic reforms have helped stabilize Pakistan's economy. He spoke at the 9th Annual Microfinance Conference in Karachi, emphasizing that recent policy and regulatory changes have strengthened growth. He added that Pakistan's economic recovery is underway and expected to gain further momentum in the current fiscal year.

Mr. Ahmed said inflation has declined sharply and will likely stay within the government's target of 5-7 percent. He also mentioned that foreign exchange reserves have increased nearly five times since February 2023. This improvement came from strategic interbank purchases that reduced the need for expensive borrowing, easing the countr...