IMF disburses $500mn loan tranche to Pakistan

ISLAMABAD: Pakistan’s central bank has received $500 million from the International Monetary Fund (IMF) as the sixth loan tranche of an ongoing aid arrangement to support economic reforms and growth, sources said on Wednesday.

Sources said that the State Bank of Pakistan (SBP) has already received the funds and that the country’s foreign reserves have now swelled up to $16.5bn.

Investor outlook at capital markets in the country appeared optimistic on reports of release of the IMF installment, with the benchmark Karachi Stock exchange 100 index witnessing an upward trend and gains crossing 30,800 mark at the start of trading Wednesday.

INP

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