*ISLAMABAD: Renowned international publication Financial Times says theupcoming visit of Saudi crown prince Mohammed bin Salman to Islamabad willfurther ease the financial crunch being faced by Pakistan, Radio Pakistanreported on Thursday.*
In an article, the English daily says the visit of MBS comes in thebackdrop of negotiations with the International Monetary Fund (IMF)reaching at a stage where Pakistan is very close to having an agreementwith the international fund.
The article quotes dean of the School of Advanced International Studies atJohns Hopkins Vali Nasr who calls it a new chapter for Pakistan. He saidthe economy is under less pressure today thanks to the decline in oilprices, which has slowed the pace at which Pakistan was running out offoreign exchange reserves.
Chief economist for DBS in Singapore Taimur Baig said Pakistan’s currencyhas also dropped by about 30 per cent against the US dollar since late2017, making the country’s exports more competitive.
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The crown prince will arrive in Pakistan on the invitation of PrimeMinister Imran Khan on February 16 (Saturday).
The Saudi crown prince’s two-day visit of Pakistan will further promotemutual cooperation between the two countries, Foreign Office Spokesman DrMuhammad Faisal said.
