The State Bank of Pakistan (SBP) has confirmed on Wednesday that it has received a $1.3 billion disbursement from the International Monetary Fund (IMF).
According to a statement released by the central bank on X, the funds follow the completion of the IMF Executive Board’s third review under the Extended Fund Facility (EFF). The board meeting, held on May 8, approved the release of SDR (Special Drawing Rights)760 million. Additionally, the IMF cleared a second disbursement of SDR 154 million under the Resilience and Sustainability Facility (RSF).
The SBP noted that the total amount, totaling SDR 914 million, reached the bank on May 12. These inflows will be officially recorded in the foreign exchange reserves for the week ending May 15.
While the injection of capital provides immediate support, the IMF highlighted that the economic outlook remains vulnerable to global shifts.
The Fund specifically pointed toward the ongoing conflict in the Middle East as a source of potential volatility for Pakistan’s recent economic progress.
In its official documentation, the Fund stated: “The authorities’ strong implementation, despite the Middle East war, has maintained economic stability and improved financing and external conditions”.
However, the international lender maintained that shocks resulting from the conflict underscore the necessity of disciplined policy and structural reform to ensure long-term growth.
IMF Deputy Managing Director and Acting Chair Nigel Clarke emphasized the importance of this balance.
“Amid a more challenging and highly uncertain external environment since the onset of the war in the Middle East, Pakistan needs to maintain strong macroeconomic policies while accelerating reform efforts,” Clarke said.
While the SBP acknowledged that macroeconomic stability improved during the first half of fiscal year 2026, it warned that regional instability creates significant risks.
