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Your email address will not be published.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

Pak, Russia agree to enhance cooperation

Islamabad: In a significant development at the second round of talks of…

Türkiye to discuss Black Sea grain corridor in Russia

Ankara: On June 21, according to the statement by Türkiye’s presidency, a…

Pakistani Rupee loses value against dollar

Karachi: On Thursday, the Pakistani rupee continued to erode against the US…

Rupee plunges to 239.94 against US dollar

Karachi: The Pakistani rupee plunged to a new low on Thursday while…