Pakistan repays $149 million to IMF
Pakistan still owes the IMF US $1.737 billion under the SBA.
With the repayment of current instalment Pakistan has till date repaid US$6,694 million since July, 2011 to IMF. CREATIVE COMMONS
ISLAMABAD:
Pakistan paid the 28th instalment to the International Monetary Fund (IMF) under the Standby Agreement (SBA) amounting to $149 million, a State Bank of Pakistan (SBP) spokesperson said on Tuesday.
According to a statement issued by SBP, with the repayment of fresh instalment Pakistan has till date repaid $6.694 billion since July, 2011 to IMF. Out of the total amount paid, $5.809 billion was returned under the SBA facility.
Despite the latest repayment, Pakistan still owes the IMF $1.737 billion.
The depleting foreign exchange reserves of the country can only be checked if it receives foreign exchange inflows in two more IMF tranches amounting to $550 million each, apart from approximately $1 billion from the auction of next generation mobile spectrum licences.
In addition, the government also expects inflows of $800 million from Etisalat which, if realised, will strengthen the foreign exchange position.
Pakistan paid the 28th instalment to the International Monetary Fund (IMF) under the Standby Agreement (SBA) amounting to $149 million, a State Bank of Pakistan (SBP) spokesperson said on Tuesday.
According to a statement issued by SBP, with the repayment of fresh instalment Pakistan has till date repaid $6.694 billion since July, 2011 to IMF. Out of the total amount paid, $5.809 billion was returned under the SBA facility.
Despite the latest repayment, Pakistan still owes the IMF $1.737 billion.
The depleting foreign exchange reserves of the country can only be checked if it receives foreign exchange inflows in two more IMF tranches amounting to $550 million each, apart from approximately $1 billion from the auction of next generation mobile spectrum licences.
In addition, the government also expects inflows of $800 million from Etisalat which, if realised, will strengthen the foreign exchange position.