Pakistan has received an inflow of $452.4 million from International Monetary Fund (IMF) as second tranche under Extended Fund Facility (EFF) program.
According to State Bank of Pakistan, these funds were arrived on Dec 23, and will be part of SBP's weekly reserves data as of December 27, 2019 to be released on January 2, 2020.
However, as per estimates, with arrival of these inflows, the SBP's foreign exchange reserves are likely to reach $11.3 billion mark, if no major payment will occur.
Pakistan has already received first tranche of $991.4 million from IMF under EFF program in July 2019. The EFF program of $6 billion was availed by the country in the first half of this year to ease pressure on external account. With arrival of second tranche total release under the EFF program surged to $ 1.444 billion.
According to State Bank, excluding IMF inflows the total liquid foreign exchange reserves held by the country stood at $17.595 billion as on December 20, 2019. Foreign exchange reserves held by the State Bank were $10.907 billion and net foreign reserves held by commercial banks were $6.688 billion end of the last week.
Comments
Comments are closed.