ISLAMABAD – Pakistan is set to receive $2.77 billion from the InternationalMonetary Fund (IMF) as the global lender rolled out its largest-everdistribution of monetary reserves of $650 billion to help the low-incomecountries deal with the economic fallout of the Covid-19 pandemic.
Kristalina Georgieva, Managing Director of IMF, while announcing theinitiative said that: “The largest allocation of Special Drawing Rights(SDRs) in history—about US$650 billion—comes into effect today. Theallocation is a significant shot in the arm for the world and, if usedwisely, a unique opportunity to combat this unprecedented crisis”.
Earlier in the month, Finance Minister Shaukat Tarin had revealed that thefunds will directly be sent to the State Bank of Pakistan on August 23.
