ISLAMABAD, Sept 28 (NNN-APP) – Pakistan received a Special Drawing Right (SDR) of around 1.03 billion U.S. dollars, from the International Monetary Fund (IMF), the State Bank of Pakistan (SBP) said, yesterday.
The inflows will be reflected in the SBP’s liquid reserves, which will be released on Oct 3, the bank said in a statement.
A day earlier, the country’s Prime Minister, Shehbaz Sharif expressed appreciation for the IMF’s technical assistance and capacity-building programmes, which have helped to strengthen the country’s institutions and improve its economic management, in a meeting with Kristalina Georgieva, the managing director of the IMF, on the sidelines of the United Nations General Assembly in New York.
The IMF staff and the Pakistani authorities reached the staff-level agreement on a 37-month Extended Fund Facility Arrangement (EFF) of about seven billion dollars, in July this year, according to the lender.
The new programme aims to support the Pakistani authorities’ efforts, to cement macroeconomic stability and create conditions for stronger, more inclusive and resilient growth, the IMF said.– NNN-APP