Pakistan receives second tranche of $1bn from IMF

Pakistan has received the second tranche of special drawing rights (SDR) worth $1.023 billion from the International Monetary Fund (IMF) under the Extended Fund Facility (EFF) programme, the central bank said on Wednesday. The amount will be reflected in its foreign exchange reserves for the week ending on May 16, the State Bank of Pakistan (SBP) said in a post on X. It would raise the reserves to $11.355bn. Last week, the IMF had approved the immediate disbursement of about $1bn to Pakistan under the ongoing EFF and allowed an additional arrangement for the $1.4bn Resilience and Sus­tainability Facility (RSF). In a statement issued last Friday, the IMF had said its Executive Board completed the first review of Pakistan’s economic reform programme supported by the EFF arrangement.