Pakistan has received the first installment of the loan under the International Monetary Fund (IMF) programme.
According to a statement issued by the State Bank of Pakistan, following the approval of a $7 billion, 37-month Extended Fund Facility by the IMF Executive Board, the first installment of $1.269 billion has been received today from the IMF.
The statement further mentioned that this amount will be added to the State Bank’s reserves and will be released on Thursday, October 3, 2024.
It is worth noting that the IMF recently approved a $7 billion bailout package for Pakistan.
Sources indicate that under the loan program, Pakistan will need to comply with IMF’s conditions.
