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Pakistan gets $3 bn from Saudi amid crisis as Imran Khan fails to sway IMF
Published on Oct 27, 2021 05:35 PM IST
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.