The International Monetary Fund (IMF) granted Pakistan’s final tranche under the $3 billion Stand-By Arrangement (SBA) one day after the global lender approved SDR 828 million, or roughly $1.1 billion, for the State Bank of Pakistan (SBP).
The sum will be included in the SBP’s foreign exchange reserves for the week ending on May 3, 2024, according to a statement released by the central bank on Tuesday.
The SBP reported last week that repayments of external debt caused a $74 million decline in its foreign exchange reserves, which stood at $7.981 billion in the week ending on April 19.
The nation’s foreign reserves dropped to $13.281 billion, a decrease of $93 million. According to the SBP, commercial banks’ reserves dropped by $20 million to $5.299 billion.
