SBP Foreign Reserves Surge by $25 Million, Receiving $1.1 Billion IMF Tranche
The SBP, in a statement issued here on Thursday, informed that foreign reserves held by the central bank increased by $ 25 million to $ 8,006 million during the week under review.
Meanwhile, net foreign reserves held by commercial banks were recorded $5,310 million, it added. Total liquid foreign reserves held by the country, in the previous week ended on April 19, 2024, were $13,280.5 million.
Among them, foreign reserves held by the central bank were $7,981.2 million while net foreign reserves held by commercial banks were $ 5,299.3 million.
On Tuesday, Pakistan received the much-awaited $1.1 billion final tranche from the International Monetary Fund (IMF) as part of the $3 billion standby arrangement, the State Bank of Pakistan (SBP) confirmed.
The SBP said it received Special Drawing Rights (SDR) 828 million equivalent to $1.1 billion in value “following the successful completion of the second review by the Executive Board of IMF under Stand-By Arrangement (SBA)”
The central bank said that the disbursement will be reflected in SBP reserves for the week ending on May 3, 2024.
