UAE extends $2bn deposits with SBP for another year

By MG News | January 16, 2025 at 09:13 PM GMT+05:00

0:00

January 16, 2025 (MLN): In a significant development, the United Arab Emirates (UAE) has confirmed the rollover of two deposits, each worth $1 billion, placed with the State Bank of Pakistan (SBP).

Initially set to mature in January 2025, these deposits will now be extended for an additional year.

This development will provide a significant financial cushion to Pakistan's economy.

Moreover, it will also bolster the country's foreign exchange reserves and support macroeconomic stability amidst ongoing fiscal challenges.

The rollover came as part of the UAE's consistent support for Pakistan during its economic recovery phase.

The move will also aid Pakistan in maintaining confidence among international lenders and investors, ensuring liquidity to meet its external obligations while navigating economic reforms under the International Monetary Fund (IMF) program.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	130,432.95 230.99M	0.07% 88.92
ALLSHR	81,148.41 766.36M	0.15% 124.42
KSE30	39,880.47 90.10M	-0.07% -27.80
KMI30	190,028.99 119.78M	0.26% 493.99
KMIALLSHR	54,953.82 416.08M	0.31% 170.16
BKTi	34,682.86 21.48M	-0.74% -257.87
OGTi	28,589.56 15.55M	1.04% 293.50

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	110,630.00	110,705.00 109,200.00	345.00 0.31%
BRENT CRUDE	68.52	69.00 68.32	-0.59 -0.85%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	-0.75 -0.76%
ROTTERDAM COAL MONTHLY	109.20	0.00 0.00	0.20 0.18%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	66.87	67.50 66.65	-0.58 -0.86%
SUGAR #11 WORLD	15.82	15.83 15.44	0.24 1.54%