ISLAMABAD: Pakistan will soon bridge its external financing gap of $4 billion with the help of friendly countries under the IMF condition in the face of huge pressure on foreign currency reserves, says State Bank of Pakistan (SBP) Acting Governor Dr Murtaza Syed.
He also conceded that inflation would persist in a higher range for the next 11 to 12 months, so the central bank was seeking an inflation target in the range of 18-20 percent on an average for the current fiscal year 2022-23.
SBP Acting Governor Dr Murtaza Syed, in an exclusive interview with an English daily at the SBP Building in Islamabad this weekend, said Pakistan has already managed gross external financing requirements of $34 to $35 billion but in addition, Islamabad is making efforts to get confirmation of $4 billion inflows from friendly countries such as Saudi Arabia, the UAE, and Qatar.
“These additional dollar inflows will be materialised for increasing foreign currency reserves position to create a buffer in case of a crisis-like situation.
