Pakistan Receives First Installment of $7 Billion IMF Bailout Package

Pakistan has successfully received the first tranche of a $7 billion bailout package from the International Monetary Fund (IMF). The State Bank of Pakistan (SBP) confirmed the disbursement of this initial installment.

According to the SBP, the first installment consists of 760 million Special Drawing Rights (SDRs), equivalent to approximately $1.0269 billion in U.S. dollars. This amount will be added to the country’s foreign exchange reserves on October 3.

Recently, the IMF finalized its loan program for Pakistan, amounting to $7 billion. Reports indicate that the new IMF loan program spans 37 months and is being offered at an interest rate below 5%.

An IMF statement revealed that the Executive Board meeting, chaired by Managing Director Kristalina Georgieva in Washington, prioritized Pakistan’s agenda. The goal of the loan program is to foster economic stability within the country.