KARACHI: The State Bank of Pakistan has secured approximately $1.3 billion from the International Monetary Fund’s Extended Fund Facility and Resilience and Sustainability Facility. This influx of funds is anticipated to bolster Pakistan’s foreign exchange reserves.
According to Radio Pakistan, the State Bank announced through a social media post on X that the IMF Executive Board completed the third review of the Extended Fund Facility last Friday. This review resulted in the approval of a disbursement of Special Drawing Rights amounting to $760 million for Pakistan.
The IMF Executive Board also sanctioned a second tranche of $154 million under the Resilience and Sustainability Facility. The State Bank of Pakistan confirmed that the total received amount is equivalent to SDR 914 million, which translates to approximately $1.3 billion.
This amount will be reflected in the foreign exchange reserves of the State Bank of Pakistan by the end of the week.