in

Saudi Arabia Deposits $3 Billion in Pakistan’s SBP at 4% Interest Rate

Saudi Arabia has recently deposited $3 billion in Pakistan’s foreign reserves for a year at 4% interest as part of a support package, according to Shaukat Tarin, Adviser to the Prime Minister on Finance.

The aid is a significant boost for the South Asian country, which is suffering with declining foreign reserves, a widening current account deficit, a depreciating currency, and high inflation.

“Good news, SBP has received a US$3 billion Saudi deposit,” a PM’s adviser wrote on Twitter, thanking Saudi Crown Prince Mohammed Bin Salman and the kingdom for their generosity.

Source from :

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

    Pakistan Becomes UAE Biggest Trade Partner in MENA Region with $8 Billion Annual Trade

    Turkey offers,State-of-the-art transplant facilities for Pakistani patients.