After increasing by $275 million, Pakistan’s total liquid reserves stood at $20.434.6 million on March 19, 2021. According to the statement of the State Bank of Pakistan, foreign reserves held by the State Bank of Pakistan stood at $13.295 billion while the net foreign reserves held by commercial banks stood at $7,139 billion.
The International Monetary Fund (IMF) on Thursday approved the immediate disbursement of $500 million for Pakistan. After reviewing Pakistan’s reform program supported by the IMF Extended Fund Facility, the Fund’s Executive Board approved the immediate disbursement of about US$500 million for budget support.
Capital market investors, traders, and researchers have termed the immediate release of funds by the International Monetary Fund (IMF) for Pakistan a timely and uplifting development for the economy amidst the COVID-19 slowdown.
