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UAE prone to affirm $1 billion financing to Pakistan this week

by Pakistan Latest News Update

Excellent news for cash-strapped Pakistan, because the United Arab Emirates (UAE) is probably going to offer written assurance to Islamabad for exterior financing of $1 billion this week.

Based on the studies of media channels Islamabad has been negotiating with the IMF because the finish of January for the discharge of $1.1 billion from a $6.5 billion bailout bundle agreed upon in 2019.
The International Monetary Fund (IMF) had demanded of the Pakistani authorities to get a written assure from the pleasant international locations for the deposit to unlock the stalled mortgage programme.
The event follows after Finance Minister Ishaq Dar specifically requested UAE authorities for assurance, the studies mentioned.
They additional say the finance secretary will transient the IMF officers throughout a gathering with them in Washington.
On April 6, it was reported that the International Monetary Fund (IMF) confirmed that it has acquired affirmation from Saudi Arabia on $2 billion in extra deposits to Pakistan.
They additional mentioned that the Saudi authorities are all set to make a public announcement, in all probability through the upcoming go to of Prime Minister Shehbaz Sharif to the dominion.

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