KARACHI: Pakistan international trade reserves elevated to a report excessive of $27.2 billion within the week to August 27 on account of receiving inflows from the Worldwide Financial Fund, the central financial institution stated on Thursday.
The nation’s reserves stood at $24.6 billion within the earlier week.
The IMF offered Pakistan $2.5 billion in its Particular Drawing Rights in late August as part of the worldwide $650 billion SDR allocation.
The State Financial institution of Pakistan’s reserves, after accounting for exterior debt repayments additionally hit an all-time excessive of $20.1 billion on account of receiving proceeds of IMF SDR allocation.
The reserves of business banks stood at $7.08 billion, in contrast with $7.04 billion.
The IMF distributed funds in new SDR to its member international locations to help the international locations by means of the pandemic. That is the most important distribution of the financial reserves of the IMF in its historical past. This funding will facilitate the restoration efforts of creating economies.