Islamabad (TDI): Pakistan has received the second tranche of special drawing rights (SDR), worth $1.023 billion from the International Monetary Fund (IMF) under the Extended Fund Facility (EFF) program, the State Bank of Pakistan said in a post on X on Wednesday.
The amount will be reflected in its foreign exchange reserves for the week ending May 16, according to the central bank.
Last week, the Fund had approved the immediate disbursement of about $1 billion to Pakistan under the current EFF and allowed an additional arrangement for the $1.4 billion Resilience and Sustainability Facility (RSF).
In a statement issued last Friday, the global lending agency had stated its Executive Board completed the first review of Pakistan’s economic reform program backed by the EFF Arrangement.
“This decision allows for an immediate disbursement of $760 million, bringing total disbursements under the arrangement to nearly $2.1 billion.
Moreover, the IMF Executive Board approved the authorities’ request for an arrangement under the RSF, with access of about $1.4 billion, it said.
It noted that Islamabad’s policy efforts under the EFF had already delivered considerable progress in stabilizing the economy and rebuilding confidence, amidst a difficult global environment.
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“Fiscal performance has been strong, with a primary surplus of 2% of gross domestic product achieved in the first half of Fiscal Year 25, keeping the country on track to meet the end-FY25 target of 2.1% of GDP.
Inflation dropped to a historic low of 0.3% in April, and progress on disinflation and steadier domestic and external conditions, have allowed the central bank to slash the policy rate by a total of 1100 bps since June 2025.
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Gross reserves stood at $10.3 billion at end-April, up from $9.4 billion in August last year, and are likely to reach $13.9 billion by end-June 2025 and continue to be rebuilt over the medium term, the statement said.
Meanwhile, it said the RSF would back the authorities’ efforts to reduce vulnerability to natural disasters and build economic and climate resilience.
