SBP receives $2.75 billion from IMF
Statesman Report
KARACHI: Pakistan has received $2.75 billion from the IMF under its new allocations for member countries to fight against Covid-19 challenges, the central bank reported on Tuesday.
The latest receipt is expected to lift the country’s foreign currency reserves to an all-time high of $20.4 billion
The global lender released the funds for Islamabad under its historic funding of $650 billion for the developing and developed member countries. The new allocations are aimed at elevating the member countries’ foreign exchange reserves to enhance their capacity to make international payments for imports and foreign debt repayments as well as enhance the pace of global economic recovery from the impact of the ongoing health crisis.