SBP received its first loan tranche of approximately $1.027 billion from IMF
the State Bank of Pakistan (SBP) received its first loan tranche of approximately $1.027 billion from the International Monetary Fund (IMF). This follows the IMF Executive Board’s approval of a 37-month Extended Fund Facility totaling $7 billion.
In a brief statement, the SBP confirmed it received SDR 760 million (around $1.0269 billion) from the IMF. These funds will be reflected in SBP’s liquid reserves, which are set to be released on October 3, 2024. This financial support marks a significant step in stabilizing the country’s economy.
Earlier on September 13, Finance Minister Muhammad Aurangzeb announced that all matters with the IMF have been settled amicably, stating, “Alhamdulillah, the Prime Minister is grateful to the IMF negotiation team and related institutions.” He highlighted that the economy is now transitioning towards growth following stabilization.
