The State Bank of Pakistan (SBP) has received the first tranche of $1.027 billion from the International Monetary Fund (IMF) as part of the 37-month Extended Fund Facility (EFF) worth $7 billion.
Moreover, this inflow, equivalent to 760 million SDR, was confirmed in a statement by the central bank on Friday.
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In addition, the received amount will boost Pakistan’s foreign reserves, which currently stand at $9.53 billion, with the funds to be reflected in SBP’s liquid reserves by October 3, 2024.
Furthermore, this development will push the central bank’s reserves to over $10 billion, supporting economic stability amidst ongoing fiscal challenges.
