Pakistan’s total foreign reserves reach $13.316 billion

The total foreign reserves of Pakistan reached $13,316 million while foreign reserves held by the State Bank of Pakistan stood at $8,006 million in the week ended on April 26, 2024.

The SBP, in a statement issued here on Thursday, informed that foreign reserves held by the central bank increased by $ 25 million to $ 8,006 million during the week under review.

Meanwhile, net foreign reserves held by commercial banks were recorded $5,310 million, it added. Total liquid foreign reserves held by the country, in the previous week ended on April 19, 2024, were $13,280.5 million.

Among them foreign reserves held by the central bank were $7,981.2 million while net foreign reserves held by commercial banks were $ 5,299.3 million.

On Tuesday, Pakistan received the much-awaited $1.1 billion final tranche from the International Monetary Fund (IMF) as part of the $3 billion standby arrangement, the State Bank of Pakistan (SBP) confirmed.

The SBP said it received Special Drawing Rights (SDR) 828 million — equivalent to $1.1 billion in value — “following the successful completion of the second review by the Executive Board of IMF under Stand By Arrangement (SBA)”

The central bank said that the disbursement will be reflected in SBP reserves for the week ending on May 3, 2024.