Karachi : May 14, 2025 : The State Bank of Pakistan (SBP) has received 2nd Tranche from International Monetary Fund (IMF) under Extended Fund Facility (EFF) program.
A SBP’s official handout issued here on Wednesday said IMF Executive Board completed the first review under the Extended Fund Facility (EFF) in its meeting held on 9 May 2025, and approved disbursement of SDR 760 million for Pakistan.
Accordingly, SBP has received SDR 760 million (US$ 1,023 million) in value 13May2025 from the IMF.
The amount will be reflected in SBP’s foreign exchange reserves for the week ending on 16 May 2025.
IMF had approved a 7 billion loan amounting to $ 7 for Pakistan under EFF last year and released its first tranche of $ 1.02 billion thereafter .
Pakistan had met a number of IMF conditionalities to qualify for EFF programme for getting $ 7 billion.
Pakistan has introduced reforms in energy and several other programme to meet IMF conditionalities since approvals of $ 7 billion loan under EFF.
Pakistan has been calling IMF loan under EFF programme as crucial for revival of its economy . It argues that IMF loan under EFF helped Islamabad get loans from other global institutions to off-set its looming default.
IMF’s second tranche had become a big challenge for Pakistan after launching of a sneer campaign by India.
India had launched a massive campaign to persuade IMF officials that any loan given to Islamabad could be used for buying of weaponary to be used against its forces. Amid rising rising tension with Pakistan, India opened a new front at IMF against Pakistan.
The release of the second tranche of $ 1.02 billion to Pakistan indicates that IMF did not agree to India’s argument for not releasing funds to Pakistan under EFF.
