The International Monetary Fund (IMF) Board has granted approval for the disbursement of a $1.1 billion loan to Pakistan.
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…
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.
