Pakistan repays $391.8m to IMF

The State Bank of Pakistan.—File Photo

KARACHI: Pakistan on Tuesday successfully paid its tenth installment of the loan it received from the International Monetary Fund (IMF) under the Standby Arrangement signed in 2008.

The installment amounts to 258.4 million SDR (Special Drawing Rights), an equivalent of US$ 391.8million at the current exchange rate.

With repayment of the current installment, Pakistan has to-date repaid 2.110 billion SDR, equivalent to US$ 3.232 billion since July, 2012, said a spokesman for the State Bank of Pakistan.

The next installment, amounting to 258.4 million SDR, under the agreement will be due at end of May this year, he said.

After the current repayment, the remaining amount due under the IMF’s Standby Arrangement until September 2015 is 3.239 billion SDR, said the SBP spokesman.

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