Pakistan Receives First Loan Tranche of $1 Billion From IMF 

The State Bank of Pakistan (SBP) Friday received the first loan tranche of around $1.027 billion from the International Monetary Fund (IMF).  “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,” the central bank said in a brief statement.  These inflows will be reflected in SBP liquid reserves to be released on Oct 3, 2024, the statement added.  The tranche will propel the reserves held by the central bank to well over $10 billion. As of the latest data issued by the central bank, on September 20, the foreign currency reserves held by the SBP were recorded at $9.53 billion.