Karachi: The State Bank of Pakistan (SBP) has announced that it has received the first installment of $7 billion from the International Monetary Fund (IMF).
In a statement, the State Bank confirmed that it has received $1.0269 billion as part of the extended fund facility approved by the IMF Executive Board for a duration of 37 months.
The announcement stated that this first installment from the IMF will bolster the country’s foreign exchange reserves and will be reflected in the data to be released on October 30, 2024.
According to the State Bank, with the receipt of this IMF tranche, the official foreign exchange reserves have risen above the $10.5 billion mark.
