Tag: cash-strapped economy
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Pakistan’s foreign exchange reserves boosted by $2 billion deposit from Saudi Arabia
Pakistan’s central bank has received a significant financial boost of $2 billion from Saudi Arabia, as announced by Federal Minister Ishaq Dar. This infusion of funds will greatly bolster the country’s low foreign exchange reserves.
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Pakistan to receive written guarantee from UAE for $1 billion loan
Pakistan is making progress towards securing a loan from the International Monetary Fund (IMF) with a $1 billion financing pledge from the United Arab Emirates (UAE) expected this week. Sources suggest that the UAE will provide written confirmation of the financing to the IMF through the Finance Secretary during the current annual meeting in Washington.…
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US Ambassador assures Pakistan of continued assistance for IMF bailout programme
On Thursday, US Ambassador to Pakistan Donald Blome reassured Finance Minister Ishaq Dar that Washington would continue to assist Islamabad in unlocking a long-stalled International Monetary Fund (IMF) bailout. This bailout is intended to help the liquidity-challenged country’s economy avoid imminent default. The assurance was given during a meeting between the finance minister and the…