SBP receives $1.03 billion from IMF as first tranche of extended fund facility

ISLAMABAD: The State Bank of Pakistan (SBP) has announced the receipt of SDR 760 million, equivalent to approximately $1.03 billion, from the International Monetary Fund (IMF) today. This marks the first tranche disbursed under the recently approved 37-month Extended Fund Facility totaling $7 billion.

The funds will be added to the SBP's liquid reserves and are set to be released on Thursday, October 3, 2024. This significant inflow aims to enhance Pakistan's foreign exchange reserves and stabilize the economy as the country navigates ongoing financial challenges.

The approval of this Extended Fund Facility by the IMF Executive Board is expected to provide critical support for Pakistan's economic reform agenda and strengthen its financial position in the coming months.