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Pakistan receives $2bn from Saudi Arabia: SBP
Saudi Arabia’s support lifts Pakistan’s reserves as officials seek to meet IMF targets and cover a $3.5 billion UAE repayment.
- On Wednesday, Prime Minister Shehbaz Sharif began a four-day diplomatic tour of Saudi Arabia, Qatar, and Turkey to address economic needs and strengthen regional relations amid Middle East tensions.
- Pakistan faces a $3.5 billion repayment to the United Arab Emirates this month, straining foreign exchange reserves that stood at about $16.4 billion as of March 27.
- The State Bank of Pakistan confirmed on Thursday it received $2 billion from Saudi Arabia, part of a total $3 billion commitment to support the balance of payments.
- During his Jeddah visit, Sharif met Crown Prince Mohammed bin Salman, expressing 'full solidarity' with the Kingdom amid regional escalation while Pakistan mediates Middle East peace efforts.
- Under its $7 billion IMF program, Pakistan targets foreign exchange reserves of more than $18 billion by June, though analysts warn financing risks remain a key vulnerability amid volatile energy prices.
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Pakistan Live News
SBP gets $2bn Saudi inflow, strengthens foreign reserves
SBP receives funds from KSA's Ministry of Finance.Development comes during PM Shehbaz's ongoing KSA visit.Pakistan faces $3.5bn repayment to UAE this month.The State Bank of Pakistan said it has received $2 billion from Saudi Arabia,...
Coverage Details
Total News Sources16
Leaning Left2Leaning Right4Center1Last UpdatedBias Distribution57% Right
Bias Distribution
- 57% of the sources lean Right
57% Right
L 29%
14%
R 57%
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