Pakistan's Foreign Reserves Rise Slightly But Debt Concerns Remain

• SBP's foreign exchange reserves increased by $105 million to $8 billion as of March 15th, 2024 • Total reserves including commercial banks rose by $239 million to $13.39 billion during the week • SBP is buying dollars from the interbank market to boost reserves and support exchange rate • Pakistan has to repay $1 billion Eurobond maturity in April which may reduce SBP reserves • Concerns remain over Pakistan’s ability to service its high external debts of $25 billion in FY25