SBP's forex reserves jump to $8.8bn after IMF tranche
- By Web Desk -
- Sep 08, 2022
Foreign exchange reserves held by the State Bank of Pakistan (SBP) rose by $1.1 billion following the loan tranche from the International Monetary Fund (IMF).
Sharing a break-up of the foreign reserves position, SBP said that the foreign currency reserves held by the central bank were recorded at $8,799.9 million, up $1.166 million compared with $7,697.1 on August 26.
Total liquid foreign reserves held by the country stood at $14.5 billion, said the SBP on Thursday. Net foreign reserves held by commercial banks amounted to $5.7 billion.
“During the week ended on September 2, 2022, SBP received $1,166 million from IMF under EFF program,” SBP said in a statement. “After accounting for external debt and other payments, SBP reserves increased by $1,103 million to $8,799.9 million.”
On Aug 31, State Bank of Pakistan confirmed that Pakistan has received a loan tranche of US$1.16 billion from the IMF.