Business
After Saudi Arabia, Pakistan receives $1bn from UAE, says Ishaq Dar
The timing of these deposits is noteworthy, as it coincides with an important meeting of the International Monetary Fund's executive board.
Islamabad: Finance Minister Ishaq Dar made an official declaration on Wednesday, revealing that the State Bank of Pakistan (SBP) received a deposit of $1 billion from the United Arab Emirates.
This significant financial boost is expected to enhance Pakistan's reserves.
This announcement follows Saudi Arabia's deposit of $2 billion into the central bank, which took place a day earlier. The timing of these deposits is noteworthy, as it coincides with an important meeting of the International Monetary Fund's executive board.
Pakistan is hopeful that this meeting will result in the approval of a $3 billion standby arrangement, which was agreed upon last month.