<p>Pakistan's central bank has received $1.2 billion from the International Monetary Fund as the first tranche of a $3 billion bailout, Finance Minister Ishaq Dar said on Thursday, a day after the IMF's board approved the package.</p>.<p>Having been teetering on brink of a sovereign debt default, Pakistan earlier this week also received $1 billion from the United Arab Emirates and $2 billion from Saudi Arabia, as both governments were reassured by the agreement struck between Islamabad and the IMF at the end of June.</p>.<p><strong>Also Read: <a href="https://www.deccanherald.com/international/world-news-politics/pakistan-gets-2-billion-in-financial-support-from-saudi-arabia-1235987.html" target="_blank">Pakistan gets $2 billion in financial support from Saudi Arabia</a></strong></p>.<p>Delivering a televised address, Dar said the first installment of the IMF money "has arrived" in State Bank of Pakistan's account.</p>.<p>Pakistan's sovereign bonds and rupee gained on Thursday, following the IMF board's approval.</p>.<p>The Pakistan rupee rose 1 per cent to 274.5 per dollar in the interbank market on Thursday, compared to Wednesday's close of 277.48, though it had been up by as much as 2 per cent during early trade.</p>.<p>Pakistan's sovereign dollar bonds gained as much as 1.7 cents, Tradeweb data showed on Thursday. A bond maturing in 2027 rose 1.75 cents to hit a 10-month high of just over 53 cents on the dollar by 0629 GMT, while a 2024 maturity was trading just under 80 cents, its highest in more than a year.</p>
<p>Pakistan's central bank has received $1.2 billion from the International Monetary Fund as the first tranche of a $3 billion bailout, Finance Minister Ishaq Dar said on Thursday, a day after the IMF's board approved the package.</p>.<p>Having been teetering on brink of a sovereign debt default, Pakistan earlier this week also received $1 billion from the United Arab Emirates and $2 billion from Saudi Arabia, as both governments were reassured by the agreement struck between Islamabad and the IMF at the end of June.</p>.<p><strong>Also Read: <a href="https://www.deccanherald.com/international/world-news-politics/pakistan-gets-2-billion-in-financial-support-from-saudi-arabia-1235987.html" target="_blank">Pakistan gets $2 billion in financial support from Saudi Arabia</a></strong></p>.<p>Delivering a televised address, Dar said the first installment of the IMF money "has arrived" in State Bank of Pakistan's account.</p>.<p>Pakistan's sovereign bonds and rupee gained on Thursday, following the IMF board's approval.</p>.<p>The Pakistan rupee rose 1 per cent to 274.5 per dollar in the interbank market on Thursday, compared to Wednesday's close of 277.48, though it had been up by as much as 2 per cent during early trade.</p>.<p>Pakistan's sovereign dollar bonds gained as much as 1.7 cents, Tradeweb data showed on Thursday. A bond maturing in 2027 rose 1.75 cents to hit a 10-month high of just over 53 cents on the dollar by 0629 GMT, while a 2024 maturity was trading just under 80 cents, its highest in more than a year.</p>