Pakistan Hits IMF Reserves Target, Unlocking Next Bailout Installment

Pakistan's central bank achieved IMF's $4.2 billion forward book target for reserves. This makes Pakistan eligible for the next $700 million installment from IMF.

Achieving the target was part of Pakistan's $3 billion, 9-month IMF bailout program to stabilize its struggling economy.

IMF will send a delegation to Pakistan to evaluate its first quarter fiscal performance before approving the next installment.

Pakistan's economy has been under pressure due to rising inflation, impacting vulnerable populations the most.

In September, Pakistan's inflation rate rose to 31.44% year-over-year, after the government raised fuel prices as part of IMF deal requirements.