UAE agrees to roll over payment of $2bn due by Pakistan
Prime Minister Shehbaz Sharif on Tuesday announced that the United Arab Emirates (UAE) had agreed to roll over the payment of $2 billion due by Pakistan this month.
Securing external financing has previously been a key condition for the International Monetary Fund (IMF) to approve the $7bn bailout deal for Pakistan.
Last year, friendly countries such as China, UAE, and Saudi Arabia had helped the country successfully clinch the IMF programme by providing timely confirmation of necessary financing assurances — with the IMF’s fund disbursement tied to debt rollover confirmation from these countries.
While talking to cabinet members today, the prime minister said he met with UAE President Sheikh Mohammed bin Zayed Al Nahyan while he was on a personal visit to Pakistan on Sunday.
“In a one-on-one meeting, he said…there is a $2 billion dollar........
© Dawn Business
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