Islamabad, (PNB NEWS). Saudi Finance Minister Mohammed al-Jadaan announced on Tuesday that the $ 3 billion extensions given to Pakistan are being “completed.”
KSA put $3 billion into Pakistan’s central bank last year to boost the country’s foreign exchange reserves.
“We are currently working on extending $ 3 billion in deposits to Pakistan,” Al-Jadan told Reuters at the Davos WEF.
The Saudi minister called Pakistan an important ally and told the agency that Riyadh would support Islamabad.
Moreover, the Saudi finance minister did not provide any information about the extension granted to Pakistan.
The IMF program continuation is also unclear, causing the country’s markets to wobble.
The South Asian country will likely seek external financial assistance soon, as its extensive reserves can only cover 2 months of import bills.