KARACHI: Pakistan paid $396 million to the IMF on Tuesday, which was the 24th instalment of the loan obtained under standby agreement.
The repayment liability of debt and interests to the IMF and other lenders including Paris Club was over $6.5 billion in FY13.
The current reserves of the State Bank till November 13 were $3.6bn.
“The repayment of $396 million to the IMF has produced negative result and the greenback rose to as high as Rs108.35 on Tuesday in the inter-bank market,” said Atif Ahmed, a currency dealer.
The State Bank said $5.256 billion were paid so far under the SBA while the total payment to the IMF since July 2011 was $6.045bn.
“After the current repayment, remaining amount due under IMF/SBA until Sept 2015 is SDRs1.484bn ($2.270bn at current exchange rate),” said the SBP spokesperson.
