UAE Confirms $2 Billion Rollover to Strengthen Pakistan’s Economy
The United Arab Emirates (UAE) has rolled over $2 billion in deposits with Pakistan’s central bank for another year, the State Bank of Pakistan (SBP) confirmed on Thursday.
ISLAMABAD: The United Arab Emirates (UAE) has rolled over $2 billion in deposits with Pakistan’s central bank for another year, the State Bank of Pakistan (SBP) confirmed on Thursday. This critical financial assistance aims to bolster Pakistan’s foreign exchange reserves, stabilize its currency, and support ongoing IMF negotiations.
The deposits, which were set to mature this month, were renewed following Prime Minister Shehbaz Sharif’s meeting with UAE President Sheikh Mohamed bin Zayed Al-Nahyan in Rahim Yar Khan. The rollover aligns with Pakistan’s efforts to meet IMF conditions for its $7 billion loan program, with a review scheduled for February.
The UAE remains Pakistan’s third-largest trading partner and a key source of foreign investment and remittances, underscoring the deep economic ties between the two nations.
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