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Pakistan-Saudi Arbia Relation: Giving information on Tuesday (July 11), Finance Minister of India’s neighboring country Pakistan (Pakistan) Ishaq Dar said that Saudi Arabia has sent $ 2 billion to the Central Bank of Pakistan. He said that this assistance will help in improving the country’s deteriorating economy after the bailout package of the International Monetary Fund (IMF).

Pakistan’s Finance Minister Ishaq Dar said in a recorded video, “I thank Saudi Arabia on behalf of the prime minister and the army chief.” The financial assistance provided by Saudi Arabia will help in increasing the dwindling foreign reserves of the central bank. In recent times, Pakistan’s foreign reserve was left only for 1 month.

Saudi Arabia’s commitment appreciated
Finance Minister Ishaq Dar appreciated Saudi Arabia’s commitment to stand by Pakistan in every difficult situation. He also thanked the Saudi Arabian leadership on behalf of Prime Minister Shehbaz Sharif and Chief of Army Staff (COS) General Asim Munir. The Finance Minister said that Pakistan’s economy is moving in the right direction and more good development is expected for Pakistan in the coming days.

Apart from this, he said that the money deposited by Saudi Arabia will help Pakistan to establish foreign reserve. On June 28, Pakistan has signed the documents of the package of $ 3 billion from the IMF.

Demand for written guarantee from friendly countries
Significantly, the IMF had demanded the Pakistani government to take written guarantees from friendly countries for the deposit amount. On June 30, Pakistan signed a much-needed $3 billion officer-level agreement with the International Monetary Fund (IMF). The International Monetary Fund (IMF) announced that it has successfully entered into a stand-by arrangement with Pakistan worth $3 billion for 9 months.

The final approval of this agreement will be given by the Executive Board of the IMF, which is expected in the middle of July. After this approval, Pakistan can get a loan of 3 billion dollars.

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