Pakistan in talks with UAE to rollover $2bn loan

MG News | January 09, 2024 at 03:54 PM GMT+05:00

0:00

January 09, 2024 (MLN): Pakistan has formally approached the United Arab Emirates (UAE) to request the rollover of a $2 billion loan, according to sources.

This $2bn amount comprises of one loan which is maturing on January 17, 2024, with an interest rate of 3%, while another loan of $1bn with an interest rate of 6.5%.

To note, the UAE currently holds a total deposit of $3bn with the State Bank of Pakistan (SBP).

Sources revealed that discussions are underway between the Prime Minister's office and the Ministry of Finance.

At present, the foreign exchange reserves held by the central bank stand at about $8.2bn.

Copyright Mettis Link News

Related News

Pakistan consolidates economic stability: FM

Govt clarifies camera policy for tile industry

Pakistan set to make Olive its new economic identity

Name	Price/Vol	%Chg/NChg
KSE100	166,553.28 727.76M	-0.47% -793.56
ALLSHR	101,296.66 1,567.06M	-0.28% -289.04
KSE30	50,903.27 227.71M	-0.57% -289.80
KMI30	241,347.86 135.29M	-0.16% -394.95
KMIALLSHR	66,524.37 778.95M	-0.27% -179.92
BKTi	47,779.01 130.29M	-0.85% -408.88
OGTi	32,913.20 28.90M	0.79% 259.34

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	108,590.00	111,065.00 106,950.00	-3515.00 -3.14%
BRENT CRUDE	62.74	62.96 61.38	1.42 2.32%
RICHARDS BAY COAL MONTHLY	80.50	0.00 0.00	-1.00 -1.23%
ROTTERDAM COAL MONTHLY	92.75	0.00 0.00	0.70 0.76%
USD RBD PALM OLEIN	1,085.00	1,085.00 1,085.00	0.00 0.00%
CRUDE OIL - WTI	58.69	58.92 57.34	1.45 2.53%
SUGAR #11 WORLD	15.13	15.44 15.03	-0.11 -0.72%