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UAE Rolls Over $2 Billion Deposits for Pakistan, Providing Crucial Financial Support
The UAE has rolled over $2 billion in deposits for another year, easing financial pressure on the country. This move reinforces support from friendly nations, vital for securing IMF assistance.
ND
by News Desk
2025-01-16
UAE Rolls Over $2 Billion Deposits for Pakistan, Providing Crucial Financial Support

The State Bank of Pakistan (SBP) announced on Thursday the rollover of two $1 billion deposits from the United Arab Emirates (UAE) for another year. These deposits, which were maturing this month, provide much-needed financial relief to Pakistan amid ongoing economic challenges.

Prime Minister Shehbaz Sharif had earlier revealed that the UAE had agreed to extend the maturity of $2 billion in deposits, reinforcing its longstanding support for Pakistan’s financial stability.

This extension comes as a significant relief for Pakistan, which has been working to meet the external financing requirements set by the International Monetary Fund (IMF). Securing such external commitments has been crucial for the approval and continuation of the $7 billion IMF bailout package.

Last year, friendly nations including China, Saudi Arabia, and the UAE played pivotal roles in helping Pakistan meet the IMF’s stringent financing conditions. Their timely assurances allowed Pakistan to secure much-needed funds under the bailout program, providing a buffer against fiscal instability.

Pakistan continues to rely on strategic partnerships with these allies to navigate through economic headwinds, with debt rollovers and fresh financial inflows serving as lifelines for the country’s foreign reserves.

The UAE's latest gesture reaffirms its commitment to supporting Pakistan in achieving economic stability and overcoming financial challenges.
Tagged:

UAE

PakistanEconomy

IMFSupport

EconomicRelief
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