Pakistan receives $700m tranche from IMF

ISLAMABAD: The $700 million tranche has been released by the International Monetary Fund (IMF), bolstering the foreign reserves of the State Bank of Pakistan (SBP).

” #SBP has received SDR 528 million (equivalent to $705.6 million) in value 16th January 2024 from IMF following successful completion of the first review by the Executive Board of IMF under Stand By Arrangement (SBA),” wrote SBP in a tweet.

1/2 #SBP has received SDR 528 million (equivalent to $705.6 million) in value 16th January 2024 from IMF following successful completion of the first review by the Executive Board of IMF under Stand By Arrangement (SBA).

— SBP (@StateBank_Pak) January 17, 2024

Read more: IMF allows immediate disbursement of $700 million to Pakistan

The current IMF programme is set to conclude in the second week of April. The initial tranche of $1.2 billion was disbursed by the Fund in July 2023.