ISLAMABAD: A Turkish news agency has claimed that Saudi Arabia and Qatar are set to extend $5 billion in financial assistance to Pakistan following its decision to repay $2 billion to the United Arab Emirates.
According to the report, recent high-level discussions between Pakistani and Saudi officials focused on regional tensions and Pakistan’s external financing needs, including requests for increased deposits and an extension of oil financing facilities.
The report further states that Pakistan will repay $3.5 billion to the UAE by the end of April following Abu Dhabi’s demand for immediate settlement. Pakistan’s foreign exchange reserves currently stand at approximately $16.4 billion.
