Pakistan Locks in USD1.2B IMF Fund

(MENAFN) Pakistan's central banking authority confirmed Thursday that approximately $1.2 billion in emergency funding from the International Monetary Fund has successfully transferred into the nation's accounts, marking a critical boost to the country's struggling economy.

The State Bank of Pakistan announced the substantial cash infusion arrived after international lenders signed off on the nation's second quarterly economic assessment under its Extended Fund Facility program. Simultaneously, authorities greenlit the initial payment from the Resilience and Sustainability Facility framework, according to the monetary authority's official statement.

The multi-billion-dollar transfer will appear in the South Asian nation's official foreign currency holdings during the reporting period concluding December 12, the central banking institution confirmed.

The funding represents a vital lifeline for Pakistan's economy as the country navigates ongoing fiscal pressures and works to stabilize its foreign exchange position amid regional economic headwinds.

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