Karachi: State Bank of Pakistan (SBP) Governor Jameel Ahmed said on Wednesday that Pakistan had received $700 million from the International Monetary Fund (IMF) as part of its bailout programme.
The SBP confirmed the development, saying the tranche equivalent to $705.6 million was released on January 16 (Tuesday).
The loan was approved after the IMF Executive Board completed its first review last week, bringing the total disbursements under the $3 billion Standby Arrangement (SBA) to about $1.9 billion.
Meanwhile, the United Arab Emirates (UAE) has rolled over two $1 billion deposits.
UAE has confirmed rollover of its two deposits of US$1.0 billion each placed with State Bank of Pakistan for another one year which were maturing in January 2024.#SBP
— SBP (@StateBank_Pak) January 17, 2024
“UAE has confirmed rollover of its two deposits of US$1.0 billion each placed with State Bank of Pakistan for another one year which were maturing in January 2024,” the central bank said in a statement.
