islamabad
\nThe United Arab Emirates (UAE) has confirmed the rollover of its two deposits of $1 billion each, the State Bank of Pakistan (SBP) announced on Thursday.
\nThe deposits, placed with the SBP for another one year, were maturing in January 2025.
\nPrime Minister Shehbaz Sharif had confirmed on Tuesday that the Gulf nation rolled over a $2 billion loan deposit, granting Pakistan a substantial fiscal respite.
\nPM Shehbaz had met UAE President Sheikh Mohamed bin Zayed Al Nahyan in Rahim Yar Khan, where the Gulf nation\u2019s top leader proposed rolling over the loan.
\n\u201cHe happily informed me that $2 billion owed by Pakistan in January was being extended by the UAE. He proposed it himself and immediately issued [directives as well],\u201d the prime minister said.
\nThe prime minister said the UAE president vowed to back Pakistan in its bid for economic stability based on the nations\u2019 historic brotherly ties.
\nPrime Minister Shehbaz also described his meeting with the UAE president as positive and productive, noting that discussions centred on investment opportunities.
\nShehbaz emphasised measures aimed at enhancing mutual ties and revealed that a specific goal had been set. \u201cThis target will create a favourable impression regarding investment,\u201d he added. Pakistan\u2019s foreign exchange reserves stand at $16.45 billion as of January 10, with SBP-held reserves at $11.73 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"
islamabad The United Arab Emirates (UAE) has confirmed the rollover of its two deposits of $1 billion each, the State Bank of Pakistan (SBP) announced on Thursday. The deposits, placed with the SBP for another one year, were maturing in January 2025. Prime Minister Shehbaz Sharif had confirmed on Tuesday that the Gulf nation rolled …<\/p>\n","protected":false},"author":4,"featured_media":65360,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-75758","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/75758","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/comments?post=75758"}],"version-history":[{"count":1,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/75758\/revisions"}],"predecessor-version":[{"id":75771,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/75758\/revisions\/75771"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media\/65360"}],"wp:attachment":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media?parent=75758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/categories?post=75758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/tags?post=75758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}