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Friday, November 15, 2024

Home Business Pakistan receives $1026.9 million as first tranche of IMF’s extended fund facility

Pakistan receives $1026.9 million as first tranche of IMF’s extended fund facility

by Staff Report
September 27, 2024
in Business

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KARACHI – The State Bank of Pakistan (SBP) has confirmed receiving the first tranche of Extended Fund Facility from the International Monetary Fund (IMF).

Global donor agency has recently approved 37-month Extended Fund Facility of $7 billion for Pakistan.

“Following the approval of the IMF Executive Board of 37-month Extended Fund Facility amounting to $7 billion, SBP has received the first tranche of SDR 760 million (equivalent to $1026.9 million) from the IMF today”, says the press release issued by the SBP on Friday.

These inflows will be reflected in SBP’s liquid reserves to be released on Thursday, October 3, 2024.