ISLAMABAD:
In a positive development, United Arab Emirates government has decided toroll over $2 billion debt for Pakistan for one year time.
The United Arab Emirates (UAE) has rolled over $2 billion debt for one yearamid central bank’s call to arrange more loans to stabilise foreignexchange reserves.
Furthermore, Pakistani authorities on Monday managed a statement from theInternational Monetary Fund (IMF) to calm the jittery markets that couldfurther undermine the value of the rupee against the US dollar.
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The UAE has rolled over $2 billion debt for one more year, FinanceSecretary Hamid Yaqoob Sheikh told The Express Tribune on Monday. Thefacility had matured last month and Pakistan had sought a three-yearextension.
