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Saturday, August 13, 2022

Pakistan received 1 billion from the IMF

The State Bank of Pakistan (SBP) said in a tweet that Pakistan had received 1.53 billion in loan installments from the International Monetary Fund (IMF) on Friday. The executive board, in its sixth review meeting on February 2, approved a tranche of about 1 billion out of a 6 billion loan package for Pakistan, thus far giving Pakistan 3 billion out of 6 billion. The remaining 3 billion will be released after reviewing the steps taken by Pakistan to strengthen the country’s foreign exchange reserves and meet the growing current account deficit. The government recently issued 1 billion worth of sukuk bonds to boost the country’s foreign exchange reserves.

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