KARACHI: Pakistan received $556 million from International Monetary Fund (IMF) on Thursday, an official of the State Bank of Pakistan said.

This was the fourth payment to Pakistan under the agreement with IMF for $6.8 billion.

The agreement was signed last year to boost Pakistan`s weak foreign exchange reserves which also helped the country to regain the sharp devaluation of the local currency.

The State Bank reporte d on Thursday that the country`s reserves stood at $13.99 billion till 27th June. After receiving $556m from IMF, the reserves would rise to $14.54bn.