Key points
- Pakistan and IMF reached staff-level agreement on the EFF on July 12, 2024
- SBP has received the second tranche of SDR 760 million (US$ 1,023 million)
- The amount will be reflected in SBP’s forex reserves for the week ending on 16th May 2025
ISLAMABAD: The State Bank of Pakistan (SBP) on Wednesday said that it has received the second tranche of Special Drawing Rights (SDR) 760 million, equivalent to $1.02 billion, from the International Monetary Fund (IMF).
“SBP has received the second tranche of SDR 760 million (US$ 1,023 million) from the IMF under the Extended Fund Facility (EFF) programme,” the central bank said in a post on X.
#SBP has received the second tranche of SDR 760 million (US$ 1,023 million) from the IMF under the EFF program. The amount will be reflected in SBP’s foreign exchange reserves for the week ending on 16th May 2025. pic.twitter.com/VJgxEd10Nl
— SBP (@StateBank_Pak) May 14, 2025
“The amount will be reflected in SBP’s foreign exchange reserves for the week ending on 16th May 2025,” the post further stated.
Staff-level agreement
The development after IMF Executive Board completed the first review under the EFF arrangement, allowing the Pakistani authorities to draw the equivalent of about $1 billion, according to Business Recorder.
The Pakistani authorities and the IMF team reached staff-level agreement on the EFF in the amount equivalent to SDR 5,320 million (or about USD 7 billion) on July 12, 2024, which was later approved by the IMF’s Executive Board in the last week of September.
