The State Bank of Pakistan (SBP) has received the first tranche of Special Drawing Rights (SDR) 760 million, equivalent to $1.03 billion, from the International Monetary Fund (IMF) under the 37-month Extended Fund Facility. This disbursement follows the IMF Executive Board’s approval of a $7 billion programme aimed at stabilising Pakistan’s economy. The SBP confirmed that these inflows will be reflected in its liquid reserves, with an official update expected on Thursday, October 3, 2024. Earlier, IMF Managing Director Kristalina Georgieva has said that the new bailout package approved for Pakistan is aimed at assisting the government in economic recovery and reduction in inflation along with employment creation and inclusive growth. “Very productive meeting with Pakistan PM @CMShehbaz! We discussed Pakistan’s new Fund-supported program helping ongoing recovery, disinflation, increased tax fairness, and reforms to create new jobs and inclusive growth,” said the top IMF official in a post on X while referring to her meeting with Prime Minister Shehbaz Sharif.