Pakistan receives $3 billion loan from Saudi Arabia
The Hindu
The loan from Saudi Arabia will be for one year at a 4% interest rate under the terms of the package, which was signed last month
Pakistan on December 4 received a $3 billion loan from Saudi Arabia, the Prime Minister's finance adviser said, as part of an economic support package.
The South Asian country has faced growing economic challenges, with high inflation, sliding forex reserves, a widening current account deficit and a depreciating currency.
Pakistan’s total liquid foreign reserves stand at $22,498 billion, based on central bank data.
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