KARACHI: Pakistan is likely to receive a $1.17 billion loan tranche from the International Monetary Fund (IMF) within six days after the Executive Board’s approval, State Bank of Pakistan Acting Governor Murtaza Syed told Bloomberg TV.
Speaking with the international new outlet, Syed said that the country’s forex reserves will shore up to $16 billion by the end of FY23 which dropped to $8 billion due to delay in the revival of the IMF agreement and external flows.
“Pakistan has commitments of $38 billion so we are over financed,” he said, adding that approvals of bilateral help will materialise soon, amounting to $4 billion, while the current account deficit is expected to clock in at around 3% of the gross domestic product.
The executive board of the Fund is scheduled to meet on August 29.
