Pakistan has received a second tranche of $1.023 billion, equivalent to 760 million in Special Drawing Rights (SDR), from the International Monetary Fund (IMF) under its Extended Fund Facility (EFF), the State Bank of Pakistan (SBP) announced on Wednesday.
According to the central bank, the inflow will be reflected in the country’s foreign exchange reserves for the week ending May 16.
#SBP has received the second tranche of SDR 760 million (US$ 1,023 million) from the IMF under the EFF program. The amount will be reflected in SBP’s foreign exchange reserves for the week ending on 16th May 2025. pic.twitter.com/VJgxEd10Nl
— SBP (@StateBank_Pak) May 14, 2025
The disbursement follows the IMF Executive Board’s completion of the first review of Pakistan’s ongoing economic reform programme, which is supported under the EFF arrangement agreed in 2024.
With the latest transfer, total disbursements under the programme now stand at approximately $2.1 billion (SDR 1.52 billion).
In the same session, the IMF board also approved Pakistan’s request for an arrangement under the Resilience and Sustainability Facility (RSF), granting access to around $1.4 billion (SDR 1 billion).
The RSF is intended to support countries facing climate vulnerabilities and natural disasters by strengthening long-term macroeconomic stability and resilience.
The broader EFF programme, originally agreed at the staff level in July 2024, totals SDR 5.32 billion — approximately $7 billion. It was formally approved by the IMF’s Executive Board in September of that year.
Analysts view the IMF programme as critical to Pakistan’s economic outlook, offering not only a buffer for the country’s depleting reserves but also a framework for structural reform.
The disbursements are expected to ease pressure on Pakistan’s balance of payments and strengthen investor confidence.
