Save Our Pak
Islamabad: Pakistan has received a $1.2 billion payment from the International Monetary Fund (IMF), giving the country a much-needed boost in its foreign reserves. The IMF had approved this amount for Pakistan on December 8.
According to details, the State Bank of Pakistan has officially received the funds from the IMF. Officials from the Finance Ministry confirmed that the money has been transferred into State Bank’s Account-1.
They added that out of the total amount, $1 billion has been given as the third installment of Pakistan’s ongoing loan program, while $200 million has been provided to support climate-related initiatives in the country.
State Bank officials said that the arrival of this installment will help increase Pakistan’s foreign exchange reserves and support efforts to stabilize the economy.
Earlier, the IMF’s latest review report described Pakistan’s economic reforms and stabilization measures as “satisfactory.” The report said Pakistan is showing steady progress, including a gradual decline in inflation, improved foreign reserves, and better investor confidence.
Prime Minister Shehbaz Sharif’s office welcomed the IMF decision, calling it “a recognition of Pakistan’s effective reforms.”
The government also stated that Pakistan has moved out of the danger of default, but the real challenge now is to turn this economic stability into long-term and inclusive growth.
Reported by Save Our Pak
