Saudi Arabia’s package of 2 billion dollars for Pakistan; IMF Confirms
IFI has confirmed Saudi Arabia has approved an additional $2 billion in deposits for Pakistan, while United Arab Emirates will soon provide another $1 billion.
International Monetary Fund has confirmed that Pakistan will receive $2 billion from Saudi Arabia, raising expectations of an early signing of the Staff Level Agreement.
The International Monetary Fund (IMF) on Thursday confirmed that Saudi Arabia has confirmed additional deposits of $2 billion to Pakistan, sources in Kazana claimed.
Since the beginning of this year, the government has been negotiating with the IMF to receive $1.1 billion from the $6.5 billion bailout package in 2019.
For the IMF program, the government has reduced subsidies, removed artificial caps on the exchange rate, imposed more taxes, and increased the prices of petroleum products.
The government is currently awaiting confirmation of a $1 billion deposit from the United Arab Emirates as it is expected to further ease the staff level agreement with the IMF.
Federal Finance Minister Ishaq Dar, during his expected visit to the United States, will also discuss and negotiate with the top officials of the United Arab Emirates in this regard.
It should be remembered that yesterday the sources of the Ministry of Finance said that after China, Saudi Arabia has also given aid of 2 billion dollars, which will increase the foreign exchange reserves.
A few days ago, Federal Minister for Finance and Revenue Senator Ishaq Dar has claimed that China has rolled over the debt of 2 billion dollars due to Pakistan.
While answering the questions in the Upper House, Federal Finance Minister Ishaq Dar has confirmed that China has rolled over the debt of 2 billion dollars.
