Islamabad (Web Desk/Agencies): The State Bank of Pakistan (SBP) on Friday said that it received $1026.9 million on Friday under the Extended Fund Facility (EFF) arrangement from International Monetary Fund (IMF).
“Following the approval of the IMF Executive Board of 37-month Extended Fund Facility amounting to $7 billion, SBP has received the first tranche of SDR 760 million, equivalent to USD 1026.9 million, from the IMF today,” the SBP said in a press release.
These inflows will be reflected in SBP liquid reserves to be released on Thursday October 03, 2024, it added.
It is pertinent to mention that the IMF board approved the 37-month Extended Fund Facility (EFF) programme of $7 billion for Pakistan on Wednesday and had authorized the immediate release of the first tranche of about $1 billion.
The staff level agreement between Pakistan and IMF on the arrangement was reached in July this year.