Pakistan Receives First Loan Tranche of $1 Billion from IMF
The State Bank of Pakistan (SBP) announced on Friday that it has received the first tranche of approximately $1.027 billion from the International Monetary Fund (IMF).
In a brief statement, the central bank confirmed that following the approval of a 37-month Extended Fund Facility worth $7 billion, it has received SDR 760 million (around $1.0269 billion) from the IMF.
These funds will be reflected in the SBP’s liquid reserves, set to be released on October 3, 2024. This tranche is expected to boost the central bank’s reserves to over $10 billion. As of September 20, the latest data indicated that the SBP’s foreign currency reserves stood at $9.53 billion.
