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Your email address will not be published.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

SHC seeks reply over FIA’s action against cryptocurrency

The Sindh High Court (SHC) on Friday sought reply from the secretary…

Dollar jumps, euro breaks parity

New York: On July 13, the dollar surged to a 20-year high…

Petrol prices increased, but prices of commodities decreased: Fawad Chaudhary

On Wednesday, Information Minister Fawad Chaudhry stated that despite the hike in…

IT & IT Enabled Services Export Remittances Surge in July-September

ISLAMABAD, Oct 23 (APP): The IT & IT enabled Services (ITeS) export…