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SBP’s dollar-buying hunger
The hallmark of SBP’s performance over the last four years has been its management of external accounts. SBP’s gross reserves have increased from a low of USD3 billion at the start of 2023 to USD21.5 billion as of now. Additionally, its forward liabilities have declined by almost $4 billion. Thus, the overall improvement stands at USD22.5 billion, while total external debt and liabilities have increased by $10.2 billion from January 2023 to June 2026 (forex reserves are up by USD15.3 billion during this period). Thus, the overall net increase of over USD9 billion is solely due to purchases fro...
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