"Saudi Arabia has agreed to a $3 billion deposit with Pakistan to support their balance of payments, which is critical as Islamabad faces a $3.5 billion repayment to the UAE this month."
"The funding comes at a critical time, representing roughly 18% of Pakistan's reserves, highlighting the urgency of the financial support from Saudi Arabia."
"Pakistan's finance minister confirmed that an existing $5 billion Saudi deposit would also be extended for an unspecified period, further solidifying financial ties."
"The two nations have made efforts to deepen economic and security ties, with Pakistan emerging as a key player in Middle East diplomacy."
Pakistan has received a $3 billion deposit from Saudi Arabia to support its balance of payments, crucial for an upcoming $3.5 billion repayment to the UAE. The funding is timely, as it represents about 18% of Pakistan's reserves. Additionally, an existing $5 billion Saudi deposit will be extended. The announcement coincides with Prime Minister Shehbaz Sharif's visit to Saudi Arabia. The two nations have strengthened economic and security ties, with Pakistan playing a significant role in Middle East diplomacy and defense cooperation.
Read at www.dw.com
Unable to calculate read time
Collection
[
|
...
]