KARACHI: The much awaited International Mone­tary Fund (IMF) tranche of over $1 billion was received by the State Bank of Pakis­tan (SBP) on Friday. The latest tranche will help improve the country’s investment environment and increase foreign exchange reserves.

“Following the successful completion of 6th review of IMF program the State Bank has received next tranche of 1.053 billion,” the central bank said in a tweet.

Pakistan had approached the IMF in November 2018 to save the economy from $20bn current account deficit. Pakistan made desperate attempts to tap the IMF loan which is conside­red the main pipeline that clears other sources for loans and aid from donor agencies and commercial markets.

The government managed to secure the $6bn Extended Fund Facility in July 2019. However, differences over financial management emerged last year and the government had to go through long negotiations which forced the country to accept the conditions attached with the IMF programme.

Published in Dawn, February 5th, 2022

Now you can follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Another U-turn?
Updated 07 Oct, 2022

Another U-turn?

The PTI’s decision to take back its resignations could herald a twist in the tussle playing out in Islamabad.
Renewed TTP threat
07 Oct, 2022

Renewed TTP threat

THE interior ministry’s call for ‘extreme vigilance’ and instructions to security forces to conduct ‘search...
Women’s gala in GB
07 Oct, 2022

Women’s gala in GB

REGRESSIVE forces, once again, nearly had their way — this time in Gilgit-Baltistan. A three-day sporting gala for...
‘Draconian’ law
06 Oct, 2022

‘Draconian’ law

THE debate over what it means to be ‘sadiq’ and ‘ameen’ has reignited after the incumbent Supreme Court ...
Welcome clarity
Updated 06 Oct, 2022

Welcome clarity

There needs to be consensus amongst all political actors that matters of governance should be the exclusive domain of civilians.
Car purchases
06 Oct, 2022

Car purchases

IF we are in the market to buy a new car, we end up paying a significantly large amount as premium over the sticker...