Standby agreement: Pakistan pays 25th IMF instalment

$147m repaid to the lender, taking the total to $5.4b.

KARACHI: Pakistan repaid $147 million on Friday under the International Monetary Fund (IMF) Standby Agreement (SBA), according to a spokesman for the State Bank of Pakistan (SBP).

With the 25th instalment, Pakistan has repaid the IMF $6.2 billion since July 2011, out of which $5.4 billion was paid under the SBA facility, the spokesman added.

During the current fiscal year, Pakistan has repaid the IMF $1.9 billion, including $1.7 billion under the SBA facility. Another $57 million was repaid under
the Emergency Natural Disaster Assistance (ENDA) during the same period.

Between December 13 and December 20, the SBP-held foreign exchange reserves decreased $275 million to $3.1 billion, according to central bank data.

The country has experienced a drop in the SBP-held foreign exchange reserves – which decreased 47% in the last six months – mainly because of debt repayments and limited inflows.

Published in The Express Tribune, December 28^th, 2013.

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