Pakistan's Financial Juggle: Repaying $2 Billion UAE Loan
Pakistan will repay a USD 2 billion loan to the UAE as requested, amidst geopolitical tensions in the Middle East. The funds, kept in the State Bank of Pakistan, were extended recently but now require immediate repayment. This could impact Pakistan's external financial requirements.
- Country:
- Pakistan
Pakistan is set to repay a USD 2 billion loan to the United Arab Emirates (UAE) upon the latter's request, amid geopolitical turbulence in the Middle East, a media outlet reported on Friday.
The funds, initially issued to aid Pakistan's balance of payments, had been retained at the State Bank of Pakistan (SBP) and were subject to regular extensions.
Amid the unfolding US-Israel conflict with Iran, the UAE has called for the loan's immediate repayment. Currently, Pakistan is dependent on external financing, including significant deposits from China and Saudi Arabia, highlighting its financial vulnerabilities.
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