Pakistan has paid seventh installment worth SDR 258.4 million, equivalent to $394.3 million, against the loan obtained under the standby arrangement of the International Monetary Fund (IMF).
According to announcement made by the State Bank of Pakistan on Wednesday, the payment was made on November 21, 2012 and with this payment Islamabad to-date has paid SDR 1,644 million, equivalent to $2,522 million, to the IMF since February 2012.
The central bank said that the next installment under IMF/SBA facility will be due at end of February 2013.
Pakistan had obtained $7.8 billion from the IMF in 2008. Since the repayments started earlier this year, rupee has been under consistent pressure losing considerable value against the dollar in the inter-bank and open currency markets.