Pakistan will soften its terms once economy improves: Governor SBP

KARACHI: Governor State Bank of Pakistan, Reza Baqir has said that Pakistan would soften its terms and conditions once the economy improves.

While addressing the Annual Financial Crime Summit in Karachi, Reza Baqir said that the economy of Pakistan was moving forward towards stability.

The governor said, “The citizens changed their foreign currency accounts to saving accounts which benefitted the economy.”

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He further said, “We also tightened our policy related to anti-money laundering and terror financing. Since we are a nation highly affected by terrorism, we have to keep an eye on these matters.”

Reza Baqir further stated that due to the steps taken by the government, the investors gained confidence in Pakistan.

He added that the country’s foreign exchange reserves are on the rise, “The condition of our economy has improved immensely,” he added.

Earlier on 10th December, the SBP received $1.2 billion from the Asian Development Bank (ADB) under the budget support fund.

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SBP on its official twitter handle confirmed the transfer of the loan amount to Pakistan. The ADB has reaffirmed its commitment to continue supporting Pakistan on the economic front.