$1.2b IMF tranche received

ISLAMABAD (APP) - Pakistan has received fourth tranche of $1.20 billion from the IMF, a private channel reported on Tuesday.
SBP spokesman Syed Wasimud Din told the channel that the IMF fourth tranche has been received.
The International Monetary Fund approved the loan from $11.3b standby arrangement after conducting a review of Pakistans economic performance and concluding it had made significant strides in reducing inflation and other areas but needed to work on budget discipline.
With the release following a review of the countrys economic performance, total disbursements under the programme amounted to about $6.54b, the IMF said. Syed Wasimud Din said the IMF fourth tranche will have $800m for the foreign exchange reserves; while, $400m would be apportioned for budget support and other expenses.
Earlier, Pakistan had received $5.34b in three tranches; however, with the fourth recent instalment will make the total at $6.54b.