Saudi Arabia has recently deposited $3 billion in Pakistan’s foreign reserves for a year at 4% interest as part of a support package, according to Shaukat Tarin, Adviser to the Prime Minister on Finance.
The aid is a significant boost for the South Asian country, which is suffering with declining foreign reserves, a widening current account deficit, a depreciating currency, and high inflation.
“Good news, SBP has received a US$3 billion Saudi deposit,” a PM’s adviser wrote on Twitter, thanking Saudi Crown Prince Mohammed Bin Salman and the kingdom for their generosity.
