The State Bank of Pakistan has received an installment worth $1.053 billion from the International Monetary Fund under the Extended Fund Facility worth $6 billion. “Following the successful completion of the sixth review of the IMF program, SBP has received the next tranche of $1.053 billion,” the State Bank of Pakistan stated on its official twitter handle.
The executive board of the IMF on Wednesday revived Pakistan’s $6 billion Extended Fund Facility programme, paving the way for the disbursement of about $1 billion tranche.
The move came after the Pakistan Tehreek-i-Insaf government narrowly managed to get the crucial State Bank of Pakistan (Amendment) Bill passed from the opposition-controlled Senate on previous Friday.
Sources say that the review largely remained smooth. They said the Indian executive director, who represents a constituency of four countries, abstained from the meeting.
