Pakistan Gets $2.75 Billion In COVID-19 Support Funds From IMF

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 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.