ISLAMABAD: An amount of one billion dollars has been received at the State Bank of Pakistan (SBP) from the United Arab Emirates (UAE).
Two days back, the government of Saudi Arabia deposited two billion dollars in the SBP.
The latest deposit of one billion dollars from the UAE was announced by Finance Minister Ishaq Dar today.
“We received the confirmation some time ago that our brother country, our friend, the UAE has deposited $1bn in the State Bank’s account. The Federal Reserves Bank has confirmed that this amount has been credited to the [SBP’s] account,” he said in a video message broadcast live on television.
The minister’s announcement comes a day after Saudi Arabia deposited $2bn with the central bank and just hours before a crucial meeting of the International Monetary Fund’s (IMF) executive board that Pakistan hopes would approve a $3bn standby arrangement agreed last month.
The UAE had confirmed its commitment to the IMF for its bilateral financial support of $1bn to Pakistan in April after the global lender had made the release of funds under a bailout programme that expired in June as it reached another standby agreement with Islamabad.
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