Pakistan, July 10 -- Pakistan received a record $38.3 billion in workers' remittances during the last fiscal year, reporting an increase of about $8 billion over a 12-month period that exceeds the country's ongoing International Monetary Fund (IMF) loan program, according to official data and analysts on Tuesday.

The remittance surge from $30.25 billion in FY24 helped shore up the country's foreign reserves, prompting experts to says it is likely to push the current account into surplus for the first time in over a decade.

The IMF Executive Board approved a $7 billion Extended Fund Facility (EFF) for Pakistan in April 2024, spanning 37 months, after acknowledging Islamabad's structural reforms and stabilizing macroeconomic indicators. ...