ISLAMABAD: Federal Finance Minister Ishaq Dar, while extending felicitations to Prime Minister Nawaz Sharif, revealed that the country’s foreign exchange reserves have reached highest ever level of $18.5 billion.
According to a Finance Ministry statement, Pakistan received seventh tranche worth $506.4 million from the International Monetary Fund (IMF) that took the country’s foreign exchange reserves to the highest ever benchmark of $18.5 billion. Previously, the country’s reserves had touched $18.29 billion mark in July 2011.
Pakistan had received about $4.05 billion from the IMF in seven instalments since September 4, 2013, when the Executive Board approved the three-year extended arrangement under the Extended Fund Facility (EFF) in the amount of SDR 4.393 billion (about $6.18 billion, or 425 per cent of Pakistan’s quota at the IMF).
