Islamabad
\nPakistan has received much needed one billion dollars from the International Monetary Fund (IMF) that would build the country\u2019s foreign exchange reserves, media reported on Saturday.
\nAs per media report, the Executive Board of the IMF on Wednesday had approved to release one billion dollars for Pakistan after Islamabad met five prior actions.
\nWith the approval of the $1 billion tranche, the total IMF lending will increase to $3 billion under the programme.
\nPakistan could receive further $3 billion in next few months from the IMF but it would be subject to completion of the remaining programme reviews.
\nThe inflow from the IMF would help in building in country\u2019s foreign exchange reserves, which are depleting.
\nIn last three weeks\u2019 time, reserves have declined by $1.86 billion mainly on account of international debt servicing.
\nThe reserves held by the SBP declined to $15.7 billion during the week ended on 28-January-2022.
\nMeanwhile, the reserves would further come under pressure in the next six months as Pakistan has to repay $8.7 billion in the second half of FY2022.
\nOn the other hand, the current account deficit is widening.<\/p>\n","protected":false},"excerpt":{"rendered":"
Islamabad Pakistan has received much needed one billion dollars from the International Monetary Fund (IMF) that would build the country\u2019s foreign exchange reserves, media reported on Saturday. As per media report, the Executive Board of the IMF on Wednesday had approved to release one billion dollars for Pakistan after Islamabad met five prior actions. With […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-242885","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n