ISLAMABAD - Following staff level agreement with the International Monetary Fund (IMF) in November 2023, Pakistan had received $1.6 billion inflows from various international lenders in December. In overall, Pakistan has received $8.16 billion loans from international lenders in the first six months (July to December) of the current fiscal year. The country has received $5.96 billion in budget and project financing and another $2.2 billion came in State Bank of Pakistan’s account. The break-up of the foreign reserves position showed that foreign reserves held by the State Bank of Pakistan are $8.2 billion and foreign reserves held by commercial banks are $4.9 billion. Pakistan is expecting to receive more inflows from international financial institutions in the next couple of months.

Source: The Nation January 19, 2024 15:11 UTC