Pakistan's foreign exchange reserves rise by over $1 billion

Foreign exchange reserves held by the State Bank of Pakistan (SBP) rose by $1.04 billion during the week ending May 16, reaching $11.45 billion, according to data released on Thursday.

The country’s total liquid foreign reserves stood at $16.65 billion, with $5.20 billion held by commercial banks.

The SBP attributed the significant increase in its reserves to the receipt of the second loan tranche from the International Monetary Fund (IMF).

“During the week ending May 16, 2025, SBP reserves increased by $1.04 billion to $11.45 billion, following the receipt of SDR 760 million (approximately $1.02 billion) from the IMF under the Extended Fund Facility (EFF) program on May 13,” the central bank stated.

This follows a more modest increase the previous week, when SBP reserves rose by $71 million to $10.40 billion.

The latest IMF disbursement came shortly after the Fund's Executive Board completed its first review of Pakistan’s performance under the EFF arrangement, clearing the way for the release of around $1 billion to support the country’s economic reform efforts.