Karachi, Aug 12 - Pakistan has received $1.2 billion from the International Monetary Fund (IMF) as the third tranche of an emergency loan agreed to last year, the central bank said.

'We have received $1.2 billion from the IMF,' State Bank of Pakistan spokesperson Syed Wasimuddin told The News.

The IMF last week increased its loan to Pakistan to $11.3 billion under an economic programme first agreed to in November 2008 to avert a balance of payments crisis.

The IMF had initially provided a $7.6 billion emergency loan package. The first tranche of $3.1 billion was disbursed in November 2008 and the second tranche of $848 million was released in April.