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ISLAMABAD: Pakistan has received its first loan tranche under the International Monetary Fund (IMF) programme.
According to a statement issued by the State Bank of Pakistan, the first tranche of $1.269 billion was received from the IMF today after the Executive Board of the IMF approved the $7 billion, 37-month Extended Fund Facility.
The statement added that the amount will be added to State Bank reserves and released on Thursday, October 3, 2024.
It should be noted that the IMF had recently approved a $7 billion bailout package for Pakistan.
Sources say that under the loan program, Pakistan will have to follow the conditions of the IMF.
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