Pakistan has received the second tranche of special drawing rights (SDR) worth $1.023 billion from the International Monetary Fund (IMF) under the Extended Fund Facility (EFF) programme, the central bank said on Wednesday.<\/p>\n
The amount will be reflected in its foreign exchange reserves for the week ending on May 16, the State Bank of Pakistan (SBP) said in a post on X. It would raise the reserves to $11.355bn.<\/p>\n
Last week, the IMF had approved the immediate disbursement of about $1bn to Pakistan under the ongoing EFF and allowed an additional arrangement for the $1.4bn Resilience and Sus\u00adtainability Facility (RSF).<\/p>\n
In a statement issued last Friday, the IMF had said its Executive Board completed the first review of Pakistan\u2019s economic reform programme supported by the EFF arrangement.<\/p>\n
\u201cThis decision allows for an immediate disbursement of around $1bn (SDR 760 million), bringing total disbursements under the arrangement to about $2.1bn (SDR 1.52bn). In addition, the IMF Executive Board approved the authorities\u2019 request for an arrangement under the RSF, with access of about $1.4bn (SDR 1bn),\u201d it said.<\/p>\n
It noted that Pakistan\u2019s policy efforts under the EFF had already delivered \u201csignificant progress\u201d in stabilising the economy and rebuilding confidence, amidst a challenging global environment.<\/p>\n
\u201cFiscal performance has been strong, with a primary surplus of two per cent of gross domestic product achieved in the first half of FY25, keeping Pakistan on track to meet the end-FY25 target of 2.1pc of GDP.<\/p>\n
\u201cInflation fell to a historic low of 0.3pc in April, and progress on disinflation and steadier domestic and external conditions, have allowed the State Bank of Pakistan to cut the policy rate by a total of 1100 bps since June 2025. Gross reserves stood at $10.3bn at end-April, up from $9.4bn in August 2024, and are projected to reach $13.9bn by end-June 2025 and continue to be rebuilt over the medium term.\u201d<\/p>\n
Meanwhile, it said the RSF would support the authorities\u2019 efforts to reduce vulnerability to natural disasters and build economic and climate resilience.<\/p>\n
A statement from the Prime Minister\u2019s Office (PMO) had said PM Shehbaz Sharif expressed satisfaction over the approval and \u201cthe failure of India\u2019s high-handed tactics\u201d against Pakistan.<\/p>\n
\u201cThe country\u2019s economic situation has improved and the country is moving towards development. India is plotting a conspiracy to divert attention from our country\u2019s development through unilateral aggression.<\/p>\n
\u201cInternational institutions have responsibly rejected India\u2019s false propaganda. Indian attempts to sabotage the IMF programme have failed,\u201d it quoted the prime minister as saying.<\/p>\n","protected":false},"excerpt":{"rendered":"
Pakistan has received the second tranche of special drawing rights (SDR) worth $1.023 billion from the International Monetary Fund (IMF) under the Extended Fund Facility (EFF) programme, the central bank said on Wednesday. The amount will be reflected in its foreign exchange reserves for the week ending on May 16, the State Bank of Pakistan […]<\/p>\n","protected":false},"author":1,"featured_media":9135,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-9134","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"_links":{"self":[{"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/posts\/9134","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9134"}],"version-history":[{"count":1,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/posts\/9134\/revisions"}],"predecessor-version":[{"id":9136,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/posts\/9134\/revisions\/9136"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/media\/9135"}],"wp:attachment":[{"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9134"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9134"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9134"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}