Recently, State Bank of Pakistan received loan of $1.16 billion from International Monetary Fund (IMF).
Statement issued by SBP that IMF approved $1.16 billion loan, in the seventh and eighth review. Which has been now received by the central bank.
Miftah Ismail tweeted “The IMF Board has approved the revival of our EFF program. We should now be getting the 7th & 8th tranche of $1.17 billion.”
However, the volume got extended from $6 billion to $6.5 billion as IMF Executive Board stalled loan program for Pakistan.
Whereas, as the the board decision, an instant disbursement of SDR 894 million (about $1.1 billion) has been allowed. Which bring the total purchases for the budget support under an agreement about US$3.9 billion, according to statement.
