Pakistan receives $2.75 billion IMF funds to boost global liquidity

By: News Desk      Published: 11:47 AM, 24 Aug, 2021
Pakistan receives $2.75 billion IMF funds to boost global liquidity
File photo.

Pakistan has received $2.75 billion from the International Monetary Fund (IMF) as a part of Special Drawing Rights (SDRs) to boost global liquidity, reported 24NewsHD TV channel on Tuesday.

The IMF funds will no doubt would help in building the country’s foreign exchange reserves to the highest-ever mark.

The IMF has transferred $2.75 billion of the country’s share to the State Bank of Pakistan (SBP).

The IMF’s Board of Governors had recently approved a general allocation of Special Drawing Rights (SDRs) equivalent to $650 billion to boost global liquidity. Pakistan’s share was $2.75 billion.

The IMF has released the amount unconditionally, which would help in building the country’s foreign exchange reserves and improving the value of the local currency.

Reporter Habib Khan