Pakistan receives second tranche of $452mn from IMF.

KARACHI -- Pakistan has received $452.4 mn as a second tranche of the $6 billion Extended Fund Facility from the International Monetary Fund (IMF) on Thursday.

Confirming the report, a spokesperson of the State Bank of Pakistan (SBP) said that the release of second tranche amounting to over $452mn showed IMF's confidence over the government's economic policies. The amount will be added to the bank's data next week, he added.

The spokesperson said that central bank's net reserves increased by $14mn to $10.9 billion during the week ending December 20.

He maintained that the country's total foreign reserves stood at $17.6 billion. SBP's spokesperson said that net foreign reserves held by commercial banks are around $6.68 billion.

Earlier, on December...