The State Bank of Pakistan (SBP) has received approximately $1.3 billion from the International Monetary Fund (IMF) under the Extended Fund Facility (EFF) and the Resilience and Sustainability Facility (RSF).
IMF Executive Board Approves Disbursement
In a social media post on X, the SBP confirmed that the IMF Executive Board completed the third review under the EFF during its meeting last Friday. The board approved the disbursement of Special Drawing Rights (SDR) 760 million for Pakistan. Additionally, the IMF Executive Board also approved the second tranche of SDR 154 million under the RSF.
Amount Reflects in Foreign Exchange Reserves
The SBP stated that the total received amount is equivalent to SDR 914 million, which translates to about $1.3 billion. This amount will be reflected in the SBP's foreign exchange reserves for the week ending this Friday.
The disbursement comes as a significant boost to Pakistan's foreign exchange reserves, which have been under pressure due to economic challenges. The successful completion of the third review under the EFF indicates the IMF's confidence in Pakistan's economic reform program.
