PAKISTAN RECEIVES FINAL LOAN TRANCHE OF $1.1 BILLION FROM IMF

PAKISTAN RECEIVES FINAL LOAN TRANCHE OF $1.1 BILLION FROM IMF

Pakistan Receives Final Loan Tranche of $1.1 Billion From IMF

The State Bank of Pakistan (SBP) has received the third and final tranche of $1.1 billion from the International Monetary Fund (IMF) under the $3 billion Stand-By Arrangement (SBA).

In a statement issued on Tuesday, the central bank said that it received SDR 828 million (equivalent to $1.1 billion) in value on April 29.

The central bank said the amount shall be reflected in its foreign exchange reserves for the week ending on 3rd May 2024.
On Monday, the IMF completed the second review under the Stand-By Arrangement (SBA) for Pakistan on Monday, allowing for an immediate disbursement of around $1.1 billion, bringing total disbursements under the arrangement to about $3 billion.

The inflow of funds will push the reserves held by the State Bank of Pakistan (SBP) close to the $9 billion mark. As of April 19, the foreign currency reserves held by the SBP were recorded at $7.981 billion.

 

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