Representational Pic
Representational Pic

Islamabad: Pakistan on Thursday received USD 452.4 million as a second tranche of the USD 6 billion loan from the International Monetary Fund (IMF). Confirming the report, a spokesperson of the State Bank of Pakistan (SBP) told ARY News that the release of the second tranche amounting to over USD 452 million showed IMF's confidence over the government's economic policies. The amount will be added to the bank's data next week, he added.

The spokesperson said that the central bank's net reserves increased by USD14 million to USD 10.9 billion during the week ending December 20.

The IMF had approved the second tranche of the loan for Pakistan under the USD 6 billion Extended Fund Facility in a meeting of its executive board in Washington on December 20.

Pakistan had received the first tranche from IMF under its loan program in July.

(To view our epaper please click here. For all the latest News, Mumbai, Entertainment, Cricket, Business and Featured News updates, visit Free Press Journal. Also, follow us on Twitter and Instagram and do like our Facebook page for continuous updates on the go)

Free Press Journal