SBP Governor Expects IMF Board Approval for $7 Billion Loan This Month  

State Bank of Pakistan (SBP) Governor Jameel Ahmad Thursday said that Pakistan has arranged the $2 billion external financing required for International Monetary Fund (IMF) program, paving the way for IMF board approval during the current month.    The governor’s remarks came during an analyst briefing after the Monetary Policy Committee (MPC) of the central bank announced a rate cut of 200bps, brokerage house Topline Securities said in a brief note. Ahmad said that external repayments are evenly scattered in the next six months, and there is no lumpy payment schedule ahead apart from the rollover amount. He said that the central bank now aims to achieve sustainable growth of the economy without compromising external account stability. Remittances momentum should continue due to lower spread between formal and informal markets, he added. The governor also highlighted that SBP will soon transfer dividends of over Rs. 2.5 trillion to the government from its FY24 profits.