SBP chief touts economic stability in Washington

State Bank of Pakistan (SBP) Governor Jameel Ahmad reaffirmed Pakistan’s improving macroeconomic stability and outlook during high-level meetings on the sidelines of IMF/World Bank Spring Meetings in Washington. According to a press release issued by the central bank, the SBP chief met senior executives from global financial and investment institutions, including JP Morgan, Standard Chartered, Deutsche, Jefferies, and major credit rating agencies and briefed them on the tangible progress Pakistan has made in stabilising its economy. He highlighted that a prudent monetary policy, combined with sustained fiscal consolidation efforts, has led to macroeconomic stability in the country. Mr Ahmad highlighted that headline inflation has declined sharply over the past two years, reaching a multi-decade low of 0.7 per cent in March.