Pakistan gets $2.75 bln in COVID-19 support funds from IMF

  • 8/24/2021
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ISLAMABAD, Aug 24 (Reuters) - Pakistan on Tuesday received $2.75 billion from the International Monetary Fund (IMF) under a Special Drawing Rights (SDR) programme to support low-income countries hit by the coronavirus, its central bank said. The funds, part of a $650 billion global programme, will shore up Pakistan"s foreign reserves, under pressure from a rise in the current account deficit and falling remittances from workers based abroad. Pakistan entered a $6 billion IMF program in 2019, a sixth review of which has been pending since March. Pakistan has reported more than 1.1 million coronavirus cases and more than 25,000 pandemic-related deaths.

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