UAE (Washington Insider Magazine) – The United Arab Emirates (UAE) has agreed to roll over an existing $2 billion loan and provide an additional $1 billion to Pakistan as the country faces a severe financial crisis.
Key Developments:
- Pakistan-UAE Meeting: PM Shehbaz Sharif met UAE President Sheikh Mohamed bin Zayed Al Nahyan in Abu Dhabi to discuss economic cooperation.
- Investment & Trade Boost: Both leaders agreed to strengthen trade, investment, and energy partnerships.
- COAS Visit Preceded Talks: Army Chief General Asim Munir also visited the UAE earlier, signaling strong bilateral ties.
- Saudi Arabia’s Role: Saudi Arabia’s SFD signed a $1 billion agreement to finance oil imports, continuing past financial support to Pakistan.
- Economic Crisis: Pakistan’s foreign reserves have plummeted to dangerous levels, barely covering three weeks of imports.
With financial assistance from the UAE and Saudi Arabia, Pakistan aims to stabilize its economy amid a looming default risk.
