According to the reports, the International Monetary Fund’s Executive Board was looking to assess Saudi Arabia’s commitment to financing Pakistan before disbursing fresh funds. The document stated that the Washington-based lender wanted to ensure that Saudi Arabia would follow through with as much as $4 billion in funding to Pakistan to ensure Islamabad does not have a funding gap after the IMF loan. The people familiar with this matter told that the transfer could include special drawing rights.

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Remittances hit 7-month high in March

Remittances sent home by overseas Pakistanis touched a seven-month high at $2.5…

UAE’s investments in Brazil reach $5 billion

The UAE’s investments in Brazil rose to $5 billion as the Emirates…

PM Imran Khan day-long visit to Gwadar 

PM Imran Khan will be briefed about the progress of the development…