ISLAMABAD: Pakistani officials will start meetings with the representatives of the International Monetary Fund (IMF) from July 29 to August 6 in Dubai for the eighth economic review under extended fund facility (EFF).
Pakistan had so far received eight tranches of about $4.05 billion since September 4, 2013, when the Executive Board approved the three-year extended arrangement under the EFF in the amount of $6.18 billion.
Pakistan’s foreign exchange reserves had reached $18.68 billion mainly due to loans received from IMF, World Bank and others. The State Bank of Pakistan’s held reserves stood at $13.54 billion and of commercial bank at $5.13 billion. The reserves would further increase next week when country would receive $337 million from the United States under Coalition Support Fund (CSF). Pakistan’s reserves might surge to $19 billion benchmark for the first time after receiving CSF tranche. Earlier, the country’s reserves reached an all-time high of $18.243 billion in 2010-11.
