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Saudi Arabia finalising extension of $3 billion deposit to Pakistan

FOOLS_NIGHTMARE

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Saudi Arabia is finalising the extension of the kingdom's $3 billion deposit to Pakistan, Saudi Minister of Finance Mohammed al-Jadaan told Reuters.

"We are currently finalising extending the $3 billion deposit to Pakistan," he said on the sidelines of the World Economic Forum in Davos.

Last year, Saudi Arabia deposited $3 billion in Pakistan's central bank to help support its foreign reserves.

Jadaan did not offer further details, but on May 1 the two countries said in a joint statement that they would discuss the possibility of supporting the deposit by extending its term "or through other options."

Pakistan is in dire need of external finances, hurt by high inflation, reserves declining to as low as less than two months' of imports, and a fast-weakening currency.

Jadaan said Pakistan was an important ally and the kingdom would stand behind the South Asian nation.

Uncertainty over the revival of an International Monetary Fund programme has compounded volatility in the economy and markets amid a political crisis since a new government took over last month from ousted Prime Minister Imran Khan.

The IMF is likely to conclude ongoing talks over a 7th review in Doha.

 

TheSnakeEatingMarkhur

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Saudi Arabia is finalising the extension of the kingdom's $3 billion deposit to Pakistan, Saudi Minister of Finance Mohammed al-Jadaan told Reuters.

"We are currently finalising extending the $3 billion deposit to Pakistan," he said on the sidelines of the World Economic Forum in Davos.

Last year, Saudi Arabia deposited $3 billion in Pakistan's central bank to help support its foreign reserves.

Jadaan did not offer further details, but on May 1 the two countries said in a joint statement that they would discuss the possibility of supporting the deposit by extending its term "or through other options."

Pakistan is in dire need of external finances, hurt by high inflation, reserves declining to as low as less than two months' of imports, and a fast-weakening currency.

Jadaan said Pakistan was an important ally and the kingdom would stand behind the South Asian nation.

Uncertainty over the revival of an International Monetary Fund programme has compounded volatility in the economy and markets amid a political crisis since a new government took over last month from ousted Prime Minister Imran Khan.

The IMF is likely to conclude ongoing talks over a 7th review in Doha.

3 Billion ? 😂 Bro if they really wanted to help it would have been 10 to 20 billion atleast which is nothing for them.
 

khail007

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View attachment 847469
Saudi Arabia is finalising the extension of the kingdom's $3 billion deposit to Pakistan, Saudi Minister of Finance Mohammed al-Jadaan told Reuters.

"We are currently finalising extending the $3 billion deposit to Pakistan," he said on the sidelines of the World Economic Forum in Davos.

Last year, Saudi Arabia deposited $3 billion in Pakistan's central bank to help support its foreign reserves.

Jadaan did not offer further details, but on May 1 the two countries said in a joint statement that they would discuss the possibility of supporting the deposit by extending its term "or through other options."

Pakistan is in dire need of external finances, hurt by high inflation, reserves declining to as low as less than two months' of imports, and a fast-weakening currency.

Jadaan said Pakistan was an important ally and the kingdom would stand behind the South Asian nation.

Uncertainty over the revival of an International Monetary Fund programme has compounded volatility in the economy and markets amid a political crisis since a new government took over last month from ousted Prime Minister Imran Khan.

The IMF is likely to conclude ongoing talks over a 7th review in Doha.


Look at the gesture of Sheikh Sahib - 'Lakh di Lanat' umar tuhadi lang gai a mang k tay lut k khandyan dhid aj tak nai bhuray?
 

AZADPAKISTAN2009

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Any deal to send Pakistani troops overseas will be "cancelled" Sorry Prince
Only elected government will decide any involvement of Pakistani Force overseas

It is best you keep your 3 billion in your own bank
 

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