ISLAMABAD: Pakistan’s foreign exchange reserves held by the State Bank of Pakistan (SBP) have increased to over $9 billion after getting last tranche from the International Monetary Fund (IMF).
The total liquid foreign reserves held by the country stood at $14,458.9 million as of 03-May-2024. The break-up of the foreign reserves position showed that foreign reserves held by the State Bank of Pakistan are $9,120.3 million and net foreign reserves held by commercial banks are $5,338.6 million. “During the week ended on 03-May-2024, SBP reserves increased by $1,114 million to $9,120.3 million mainly due to receipt of $1.1 billion from IMF as final tranche under SBA program,” the State Bank of Pakistan said on Thursday.
Pakistan has borrowed a $9.796 billion loan from international lenders in the first nine months (July to March) of the current fiscal year to build the country’s foreign exchange reserves. The country has received $6.899 billion in budget and project financing and another $2.2 billion came in State Bank of Pakistan’s account.
