Recently, Pakistan has been actively seeking a $4 billion loan from banks in Gulf countries to address its external financing needs as part of the IMF bailout agreement. The government is in talks with institutions like Dubai Islamic Bank and Mashreq Bank to secure the necessary funding.
Minister of Finance Muhammad Aurangzeb has engaged in discussions with the CEO of Dubai Islamic Bank to explore potential investment opportunities. With a total of $26.4 billion in debt repayments due this year, Pakistan is facing significant external financing challenges and aims to secure $4 billion in commercial loans from Gulf banks.
Furthermore, Pakistan is also looking to renegotiate loans amounting to $12 billion from China and Saudi Arabia. In a recent development, Pakistan and the IMF reached a $7 billion aid package deal, subject to approval by the Fund’s executive board. This agreement is expected to enhance macroeconomic stability and pave the way for stronger and more inclusive growth in the country.
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