July, 13(E. A Report) —International Monetary Fund (IMF) has deposited $1.2 billion into the State Bank of Pakistan (SBP), announced Finance Minister Ishaq Dar on Thursday.“I would like to share the information that the IMF has deposited $1.2 billion upfront payment in the account of State Bank of Pakistan (SBP),” said Dar“Last night, the IMF Executive Board approved the Stand-By Arrangement (SBA).“Under the agreement, Pakistan received an instalment of $1.2 billion and the remaining $1.8 billion would be disbursed after two reviews, which will be held in November and February.“This would boost foreign exchange reserves, and after this week’s closing on Friday, SBP reserves would have increased by $4.2 billion this week,” h...
July 13, 2023 at 2:49 pm | Economic Affairs