Pakistan receives $556mn from IMF
ISLAMABAD: Pakistan’s foreign exchange reserves exceed $14 billion after receiving $556 million as the fourth tranche of an International Monetary Fund (IMF) loan approved last year.
Spokesman State Bank of Pakistan (SBP) told ARY News that the fourth installment of IMF’s loan worth $556 million has been transferred to Pakistan’s account boosting Pakistan’s foreign exchange reserves to $14.8 billion which were stood at $7.8 billion before the Extended Facility Fund (EFF) was approved.
The foreign exchange reserves of the country were declined by $273.4 million on the week ended on June 27. The reduction occurred due to external debt and interest payment. Following the reduction the foreign reserves lowered to $13.99 billion.