Pakistan received first tranche of $99.14 million from IMF

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Pakistan received first tranche of $99.14 million from IMF

Pakistan has received the first tranche of $991.4 million under IMF External assistance package.

Earlier in the month, Executive Board of the IMF has approved $6 billion Extended Fund Facility for Pakistan for three years period to support the government’s economic reform programme.

The First tranche from IMF is expected to increase Pakistan’s foreign exchange reserves. At June-19 end, Pakistan’s foreign exchange reserves stood at $14.4 billion, including State Bank’s reserves of $7.27 billion.

The remaining amount of $5 billion will be paid in periodic instalments over a three-years period.

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