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Tuesday, November 5, 2024

Home Business Pakistan gets $705.6mn from IMF under SBA

Pakistan gets $705.6mn from IMF under SBA

by Staff Report
January 17, 2024
in Business, Featured, Pakistan, Top News

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KARACHI – The State Bank of Pakistan (SBP) has received $705.6 million from International Monetary Fund (IMF).

The SBP has confirmed the latest development in a post shared on micro-blogging platform X (former Twitter) on Wednesday.

1/2 #SBP has received SDR 528 million (equivalent to $705.6 million) in value 16th January 2024 from IMF following successful completion of the first review by the Executive Board of IMF under Stand By Arrangement (SBA).

— SBP (@StateBank_Pak) January 17, 2024

The amount has been released following successful completion of the first review by the Executive Board of the global lending agency under Stand By Arrangement (SBA).

This disbursement will be reflected in SBP reserves for the week ending on 19th January 2024