PAKISTAN RECEIVES $1.0269 BILLION FROM IMF AS FIRST TRANCHE OF $7 BILLION PACKAGE

Independent desk.

Islamabad, September 27, 2

Pakistan has received the first tranche of $1.0269 billion (SDR 760 million) from the International Monetary Fund (IMF) as part of the approved 37-month Extended Fund Facility (EFF) amounting to $7 billion.
The IMF’s Executive Board approved the EFF to support Pakistan’s economic reforms and address structural imbalances. The funds will help Pakistan promote stability, drive growth, and overcome economic challenges.
The State Bank of Pakistan (SBP) received the first tranche, which will be reflected in SBP’s liquid reserves to be released on Thursday, October 3, 2024.

The 37-month EFF program aims to:

– Address structural imbalances
– Promote economic stability
– Drive sustainable growth

This development is a positive step for Pakistan’s economy, and the IMF’s support will help the country navigate its current challenges and build a more sustainable future.