'Drowning in debt', Pak gets $8 billion in financial support from Saudi Arabia

Saudi Arabia has agreed to provide Pakistan with a 'sizeable package' of around 8 billion U.S. Dollars. $8BN in financial support from Saudi as Pak aims to bolster dwindling foreign exchange reserves. Economic mismanagement - high inflation, widening current account deficit & a depreciating currency. Pakistan reportedly secured the deal during the visit of Prime Minister Shehbaz Sharif to Saudi. Package includes doubling of oil financing facility, additional cash & rolling over of existing $4.2BN facilities.