Pakistan gets $3 bn from Saudi amid crisis as Imran Khan fails to sway IMF

Published on Oct 27, 2021 05:35 PM IST
Copy Link

Saudi Arabia has said it is depositing USD 3 billion in Pakistan's central bank to help the cash-strapped country with the foreign reserves. The Saudi Fund for Development said it is depositing $3 billion in the State Bank of Pakistan (SBP). It added that an official directive was issued to supply $1.2 billion to finance Pakistan's oil products trade during the year. This comes as a respite for Pakistan, which is battling a deep economic crisis. Earlier, Saudi Arabia had provided a USD 6 billion financial package, including $3 billion deposits into the State Bank of Pakistan and the remaining $3 billion for oil facility on deferred payment on an annual basis. Watch this report for more.

Story Saved
Saved Articles
My Reads
Sign out
New Delhi 0C
Tuesday, November 30, 2021