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Investors’ confidence restored due to govt’s measures: SBP Governor Reza Baqir

Investors’ confidence restored due to govt’s measures: SBP Governor Reza Baqir

KARACHI: State Bank of Pakistan (SBP) Governor Reza Baqir said on Saturday that investor confidence has been restored due to effective measures adopted by the government for economic reforms of the country.
The governor expressed these views during his address to Financial Crime Summit and expressed satisfaction that the state’s foreign exchange reserves have been increasing.
He outlined that the country has followed the recommendations of the Financial Action Task Force (FATF), and the international organisations have appreciated Pakistan’s efforts in this regard.
The governor pointed out that reforms in the financial system were currently underway, and stopping terror financing was one of the top priorities.
He observed that Pakistan has been heavily affected by terrorism and Pakistan would benefit from bringing an end to the terror financing.
Reza Baqir revealed that the International Monetary Fund (IMF) has appreciated Pakistan for taking measures for economic reforms, and the country’s exchange rate has been gradually improving.
He stated that due to pressure on the foreign exchange, the state treasury was running out of money; however the economy has been gaining stability.