GNN on Google Play Store GNN on Apple App Store
Connect with us

Business

SBP confirms receiving first tranche of $1.03bn from IMF

The IMF Executive Board approved the 37-month, $7-billion Extended Fund Facility for Pakistan on Wednesday

Published

3 hours ago

on

By

SBP confirms receiving first tranche of $1.03bn from IMF
SBP confirms receiving first tranche of $1.03bn from IMF

Karachi: The State Bank of Pakistan (SBP) confirmed on Friday that it had received the first tranche of Special Drawing Rights (SDR) 760 million, equivalent to $1.03 billion, from the International Monetary Fund (IMF).

“Following the approval of the IMF Executive Board of a 37-month Extended Fund Facility amounting to US$7 billion, the SBP has received the first tranche of SDR 760 million (equivalent to USD 1026.9 million) from the IMF today,” the central bank said.

These inflows will be reflected in SBP liquid reserves to be released on Thursday, October 3, 2024, it added.

The IMF Executive Board approved the 37-month, $7-billion Extended Fund Facility for Pakistan on Wednesday.

Continue Reading
`

Trending