The State Bank of Pakistan (SBP) on Thursday confirmed it has received about $1.2 billion from the International Monetary Fund (IMF) after the Fund’s Executive Board approved disbursements under the Extended Fund Facility (EFF) and the Resilience and Sustainability Facility (RSF).
In a statement, the central bank said the IMF Board completed the second review of Pakistan’s EFF on December 8 and approved the release of SDR 760 million. The Board also cleared the first tranche of SDR 154 million under the RSF.
“Accordingly, SBP has received SDR 914 million (equivalent to about US$1.2 billion) under the EFF and RSF in value 10 Dec 2025,” the Bank noted, adding that the inflow will be reflected in Pakistan’s foreign exchange reserves for the week ending December 12.
On Monday, the IMF announced the approval of the combined disbursement. Following the Board discussion, Nigel Clarke, Deputy Managing Director and Acting Chair, said Pakistan’s reform progress under the EFF had helped maintain macroeconomic stability despite recent shocks.
He said real GDP growth had strengthened, inflation expectations remained anchored, and fiscal and external imbalances had moderated. Clarke stressed that Pakistan must maintain prudent policies amid global uncertainty and accelerate reforms to achieve stronger, private sector–led medium-term growth.
An IMF mission led by Iva Petrova held discussions in Karachi, Islamabad and Washington between September 24 and October 8 for the EFF second review and the RSF first review. A staff-level agreement was reached on October 15.
