Pakistan received the second tranche of special drawing rights of $1.023 billion under the Extended Fund Facility (EFF) programme from the International Monetary Fund (IMF), the central bank stated in an X post on Wednesday.
It will be shown in its foreign exchange reserves for the week ended May 16, the State Bank of Pakistan said.
The IMF last week had approved the immediate release of around $1bn to Pakistan under the current EFF and permitted an additional arrangement for the $1.4bn Resilience and Sustainability Facility (RSF).
In a statement released last Friday, the IMF had stated that its Executive Board finalized the first review of Pakistan’s economic reform program supported by the EFF Arrangement.
This move provides for an immediate disbursement of approximately $1bn (SDR 760 million), taking total disbursements under the arrangement to approximately $2.1bn (SDR 1.52 billion).
It observed that Pakistan’s policy initiatives under the EFF have already yielded “considerable progress” towards stabilizing the economy and restoring confidence, in a difficult international context.
As a result of improving economic indicators, inflation dropped to a record low of 0.3% in April. Furthermore, advances in disinflation and more stable domestic and external conditions have enabled the State Bank of Pakistan to reduce the policy rate by a cumulative 1100 basis points since June 2025.
Gross reserves increased to $10.3bn by end-April from $9.4bn in August 2024, and analysts forecast them to reach $13.9bn by end-June 2025, expecting continued rebuilding over the medium term.
The economic condition of the country has improved, and the country is progressing towards development. India is conspiring to divert the focus from our country’s development by taking unilateral aggression.
International institutions have rightly turned down India’s vicious propaganda. Indian efforts to undermine the IMF programme have been unsuccessful,” it quoted the prime minister as asserting.
