On July 16, 2021, Pakistan’s total liquid foreign reserves stood at $25,128.0 million.
As per the report, A sum of $18,050.7 million of foreign reserves was held by the State Bank of Pakistan, while the commercial banks held the remaining net $7,077.3 million of the total liquid foreign reserves of $25,128.0 million.
During the week ended July 16, the State Bank of Pakistan received the proceeds of $1,040.8 million against the Pakistan Euro Bond. After accounting for the external debt repayments, the reserves increased by $845 million to a total of $18,050 million.
Earlier on March 19, 2021, after an increase by $275 million, Pakistan’s total liquid reserves stood at $20.434.6 million. According to the statement of the State Bank of Pakistan, foreign reserves held by the State Bank of Pakistan stood at $13.295 billion while the net foreign reserves held by commercial banks stood at $7,139 billion.
The International Monetary Fund (IMF) approved the immediate disbursement of $500 million for Pakistan. After reviewing Pakistan’s reform program supported by the IMF Extended Fund Facility, the Fund’s Executive Board approved the immediate disbursement of about US$500 million for budget support.
Capital market investors, traders, and researchers have termed the immediate release of funds by the International Monetary Fund (IMF) for Pakistan a timely and uplifting development for the economy amidst the COVID-19 slowdown.