In a positive development, UAE rolls over $2 billion debt for Pakistan
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ISLAMABAD:
In a positive development, United Arab Emirates government has decided to roll over $2 billion debt for Pakistan for one year time.
The United Arab Emirates (UAE) has rolled over $2 billion debt for one year amid central bank’s call to arrange more loans to stabilise foreign exchange reserves.
Furthermore, Pakistani authorities on Monday managed a statement from the International Monetary Fund (IMF) to calm the jittery markets that could further undermine the value of the rupee against the US dollar.
The UAE has rolled over $2 billion debt for one more year, Finance Secretary Hamid Yaqoob Sheikh told The Express Tribune on Monday. The facility had matured last month and Pakistan had sought a three-year extension.
