Pakistan received a much-needed financial boost today as the International Monetary Fund (IMF) greenlit the disbursement of SDR 828 million, equivalent to roughly $1.1 billion. This approval came after the IMF Executive Board’s completion of the second review under the Stand-By Arrangement (SBA) for Pakistan on April 29, 2024.
The funds were deposited into the State Bank of Pakistan’s (SBP) account on the same day and will be reflected in the bank’s foreign exchange reserves by the week ending May 3, 2024. This injection of capital is expected to provide much-needed support for Pakistan’s economic stability.