The State Bank of Pakistan (SBP) on Tuesday night received some one billion dollar from International Monetary Fund (IMF) as the first tranche of bailout package for balance of payment support. Sources in the SBP confirmed to Business Recorder that the SBP has received IMF first tranche of $991.4 million which is equivalent to SDR 716 million. The arrival of inflows from the IMF will help strengthen the depleting foreign exchange reserves of the country and ease pressure on external account.

Copyright Business Recorder, 2019