Pakistan pays $149m to IMF

Karachi: Pakistan paid the 28th installment under the International Monetary Fund (IMF)/Stand-by Agreement (SBA) facility, amounting to $149 million, the State Bank of Pakistan (SBP).

With the repayment of the current installment, Pakistan has repaid the IMF $6,694 million since July 2011, of which $5,809 million was under the SBA facility only, a spokesman for the SBP added.

Foreign exchange reserves held by the State Bank of Pakistan (SBP) stood at $2.8 billion on February 7, according to the latest data released by the central bank.

Pakistan has to pay around $1 billion to the IMF in the remaining months of the fiscal year. This is significantly less than the payments the country made to the IMF in the first half of the current fiscal year, which stood at almost $2 billion.