State Bank of Pakistan Receives $1.1 Billion from IMF Under Stand-by Arrangement

The International Monetary Fund (IMF) has completed its second review under the Stand-by Arrangement (SBA) and approved the disbursement of SDR 828 million (approximately US$ 1.1 billion) to Pakistan. The State Bank of Pakistan (SBP) confirmed receiving the funds on April 29, 2024, which will be reflected in the country’s foreign exchange reserves for the week ending May 3, 2024. According to State Bank of Pakistan, this financial support from the IMF is a significant boost to Pakistan’s economic stability and will help in managing the country’s foreign exchange reserves more effectively.