Pakistan is set to receive $5 billion (around ₹46,500 crore) in financial support from Saudi Arabia and Qatar. This comes as Pakistan needs to repay $3.5 billion (around ₹29,000 crore) to the United Arab Emirates by the end of this month.
According to reports, this support is important to help manage Pakistan’s weak foreign exchange reserves.
IMF condition to keep funds in Pakistan
The International Monetary Fund has launched a three-year programme to support Pakistan’s struggling economy, under which the country will receive about $7 billion.
In return, the IMF has asked major creditors such as Saudi Arabia, China and the UAE to keep their funds in Pakistan for three years and not withdraw them. Reports suggest Qatar may replace…