The International Monetary Fund’s (IMF) Executive Board has completed the second review of Pakistan’s economic reform program, which is supported by the IMF’s $3 billion Stand-By Arrangement (SBA). As a result of the Board’s decision, approximately US$1.1 billion will be immediately disbursed, as confirmed by sources in the Ministry of Finance. The IMF is expected to release a detailed statement on this matter soon.
It is worth mentioning that a team from the IMF, led by Nathan Porter, visited Islamabad from March 14-19, 2024, to engage in discussions regarding the second review.
The influx of funds will significantly boost the reserves held by the State Bank of Pakistan (SBP), bringing them close to the $9 billion mark. As of April 19, the SBP’s foreign currency reserves stood at $7.981 billion.
