KARACHI: Pakistan has received the second tranche of special drawing rights worth 760 million ($1,023 million) from the International Monetary Fund under the extended fund facility (EFF) program, the State Bank of Pakistan said on Wednesday.
The IMF last Friday approved a fresh $1.4 billion loan to Pakistan under its climate resilience fund and approved the first review of its $7 billion program, freeing about $1 billion in cash. The review approval brings disbursements to $2 billion within the $7 billion program. “SBP has received the second tranche of $ 1,023 million from the IMF under the EFF program,” the central bank said on X.
“The amount will be reflected in SBP’s foreign exchange reserves for the week ending on 16th May 2025.” The loan disbursement comes amid a military standoff with arch-rival India, though Finance Minister Muhammad Aurangzeb told Reuters in an interview on Monday that the conflict would not have a large fiscal impact on Pakistan. The two nations are currently under a US-brokered ceasefire. “Pakistan’s policy efforts under the program have already delivered significant progress in stabilising the economy and rebuilding confidence, amidst a challenging global environment,” the IMF said in a statement on Friday, when it approved the latest tranche.
Read more: Pakistan set to receive $1b after IMF review clearance
