• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Friday, May 9
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    Trump Announces First Post-Tariff Trade Deal

    May 8, 2025

    Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

    May 7, 2025

    Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

    May 7, 2025

    Federal Reserve Holds Interest Rates Steady Despite Pressure From Trump

    May 7, 2025

    ‘Wait Them Out’: John Kennedy Tells Larry Kudlow One Lie He Suspects China’s Telling US

    May 7, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Finance»Saudis Deposit $2 Billion in Pakistan’s Central Bank Ahead of Key IMF Meeting
Finance

Saudis Deposit $2 Billion in Pakistan’s Central Bank Ahead of Key IMF Meeting

July 12, 2023No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Saudis Deposit $2 Billion in Pakistan’s Central Bank Ahead of Key IMF Meeting
Share
Facebook Twitter LinkedIn Pinterest Email

The Pulse | Economy | South Asia

The deposit is not a loan but will shore up Pakistan’s reserves and remain in the bank for at least a year.

Advertisement

Saudi Arabia has deposited $2 billion into Pakistan’s central bank, the government said Tuesday, a much-needed financial boost ahead of a critical meeting of the International Monetary Fund on the new bailout package for the cash-strapped South Asian country.

In a video statement, Pakistani Finance Minister Ishaq Dar said the kingdom was making good on its promise to bolster Pakistan’s foreign exchange reserves. The infusion is not a loan as such but will shore up the reserves and remain with Pakistan’s central bank for at least a year.

The development comes on the eve of the meeting of the IMF’s executive board, which is expected to approve a new and much-needed $3 billion loan to Pakistan to help the country overcome an economic crisis.

Dar said that with the Saudi deposit, Pakistan’s foreign exchange reserves, which dropped to $9.6 billion last week — barely enough to pay import bills for a month — have gone up to $11.6. “We thank the Saudi leadership on behalf of the government and people of Pakistan,” he said.

He assured the nation that Pakistan would soon return to the path of growth. “God willing, now Pakistan’s economy will witness an improvement,” Dar said.

Enjoying this article? Click here to subscribe for full access. Just $5 a month.

Following the announcement, Prime Minister Shehbaz Sharif tweeted his “deep gratitude to the leadership and brotherly people of the Kingdom of Saudi Arabia” and said the deposit reflects the kingdom’s growing confidence in Pakistan’s economic turnaround.

See also  FTX Employees Discovered Sam Bankman-Fried's $65 Billion Backdoor to Customer Assets

“We remain committed to making all necessary efforts to improve Pakistan’s economy,” Sharif said.

Also on Tuesday, Sharif in a meeting with the Saudi ambassador to Pakistan, Nawaf bin Said Al-Malki, praised the kingdom’s “generous and unwavering support for Pakistan,” saying “it was particularly instrumental in securing the deal with the IMF,” according to a government statement. It said Sharif thanked Saudi Crown Prince Mohammed bin Salman for the deposit.

Advertisement

Late in June, the IMF agreed to provide $3 billion to Pakistan in badly needed relief to bail out the impoverished country’s ailing economy — a nine-month agreement that the IMF’s executive board is to approve Wednesday at a meeting in the United States. Pakistan also hopes the board will approve the release of a crucial $1.1 billion from the bailout.

Pakistan’s economy has faced several heavy blows recently, such as the devastating floods last summer that killed 1,739 people, caused $30 billion in damage, and impacted millions of Pakistanis. The country was also hit by an international commodity price spike in the wake of Russia’s war in Ukraine.

The bailout deal was originally signed between the IMF and Pakistan’s former Prime Minister Imran Khan in 2019 and was to expire on June 30 when the new, breakthrough agreement was announced.

ahead Bank Billion central deposit IMF key meeting Pakistans Saudis
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

$15 Billion And Climbing: Trump’s Tariffs Deliver Record High Revenue

April 25, 2025

Ending China’s De Minimis Exception Brings 3 Benefits for Americans

April 17, 2025

The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

April 17, 2025

Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

April 17, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Jonathan Majors Releases Text Messages from Woman Accuser

April 5, 2023

Finally! Cricket Set for Olympic Return at 2028 Los Angeles Games

September 5, 2023

Chinese Communists Have ‘Supreme Access’ to All Tiktok User Data

June 8, 2023

Guaranteed income found to improve people’s health during the pandemic

April 13, 2023
Don't Miss

Trump Announces First Post-Tariff Trade Deal

Business May 8, 2025

President Donald Trump announced Thursday the U.S. has reached a trade agreement with the U.K.,…

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025

Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

May 7, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,110)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,626)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

U.S. Has Turned Nuclear War into ‘Miserable Reality’

July 18, 2023

US Adds 209,000 Jobs In June, Underperforming Expectations

July 7, 2023

Smokey Robinson Reveals He Had An Affair With Diane Ross

April 29, 2023
Popular Posts

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.