KARACHI:
The State Bank of Pakistan said on Thursday that the United Arab Emirates has confirmed the transfer of its two deposits of $1 billion each placed with the State Bank of Pakistan for another year. The deposits expired this month.
Prime Minister Shehbaz Sharif announced last week that the United Arab Emirates had agreed to continue the $2 billion payment Pakistan was due this month.
Securing external financing has previously been a key condition for the IMF to approve the $7 billion rescue agreement.
