ISLAMABAD, April 30 (Xinhua) -- Pakistan has received a Special Drawing Right (SDR) of around 1.1 billion U.S. dollars from the International Monetary Fund (IMF), the State Bank of Pakistan said on Tuesday.
The IMF executive board completed the second review under the stand-by arrangement in its meeting held on Monday, and approved the disbursement of the SDR for Pakistan, the bank said in a statement.
The amount shall be reflected in the foreign exchange reserves of the bank for the week ending on May 3, 2024, the statement added.
The IMF said in a statement on Monday that with the latest tranche, Pakistan's total disbursements under the arrangement rose to SDR of about 3 billion dollars.
With the latest development, the IMF has provided a policy anchor to address Pakistan's domestic and external imbalances as well as a framework for financial support from multilateral and bilateral partners, the lender added. ■