Islamabad: Pakistan on Wednesday received next tranche of 700 million dollars, from the International Monetary Fund (IMF) as total loan received from climbed to 1.9 billion dollars.
The three billion dollar agreement will complete in April 2024.
A staff level between Pakistan and the IMF was brokered on November 15 last year.
1/2 #SBP has received SDR 528 million (equivalent to $705.6 million) in value 16th January 2024 from IMF following successful completion of the first review by the Executive Board of IMF under Stand By Arrangement (SBA).
— SBP (@StateBank_Pak) January 17, 2024
It is pertinent to mention here that Pakistan has already gotten 1.2 billion dollars under the standby arrangment .
The IMF executive board in the last week had approved issuing of next tranchee of loans and the staff level aggrement after the economic review.
On the other hand, Pakistan will receive more 1.1 billion dollars in case of successful completion of the existing economic review after the last the economic review.
Pakistan will hold negotiation with the IMF next month.
