Pakistan receives $1.05 billion from IMF

By: News Desk
Published: 08:59 PM, 4 Feb, 2022
Pakistan receives $1.05 billion from IMF
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Pakistan has received $1.05 billion from the International Monetary Fund (IMF) following the successful conclusion of the sixth review of the External Fund Facility (EFF) programme, the central bank announced Friday.

"Following the successful completion of the 6th review of the IMF programme, #SBP has received the next tranche of $1.053 billion," the SBP wrote on its official Twitter account.

Late on Wednesday, the IMF decided to resume the stalled $6 billion loan programme, after the conclusion of the 2021 Article IV consultation and the sixth review of the extended arrangement under the EFF for Pakistan. The completion of the sixth review allowed the authorities to draw the equivalent of SDR 750 million (about $1 billion), bringing total purchases for budget support under the programme to SDR 2,144 million (about $3 billion, or 1065 of the quota).

Categories : Business