In a significant development, the United Arab Emirates (UAE) has affirmedits commitment to assisting Pakistan in addressing its $6.5 billionexternal financing gap, a pivotal move disclosed in Islamabad.
Sources report that a meeting transpired on Tuesday between theInternational Monetary Fund (IMF) mission chief and the UAE Ambassador inPakistan. The primary focus of the discussion was the formidable externalfinancing challenge confronting Pakistan.
During the meeting, the UAE ambassador conveyed a pledge to activelycontribute to stabilizing Pakistan’s economy and tackling the criticalissue of the $6.5 billion financing gap.
Concurrently, the IMF mission is in the process of seeking confirmationfrom Pakistan regarding its external financing strategies.
Read Top Stories
Facing the substantial challenge of a $6.5 billion external financing gap,Pakistan has opted to seek support from friendly nations, including SaudiArabia and the UAE.
Insider information suggests that the Pakistani government is also set toapproach institutions such as the Islamic Development Bank, AsianDevelopment Bank, and the World Bank, soliciting financial assistance tomitigate the current account deficit.