Pakistan Says It Will Repay Matured Loan Deposits to UAE

News Source : Financial Post

News Summary

Pakistan will return matured loan deposits to the United Arab Emirates.
The repayment will strain Pakistan’s dollar reserves, which stood at $16.4 billion as of March 27.
The move comes despite State Bank of Pakistan Governor Jameel Ahmad previously reiterating that bilateral partners have assured the country its debt will continue to be rolled over.
Pakistan has about $12 billion in debt from friendly countries, mainly China, Saudi Arabia and the UAE which had kept extending the loans every year at maturity.

(Bloomberg) Pakistan will return matured loan deposits to the United Arab Emirates, in a move that will strain the South Asian nations reserves.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubsc [+4385 chars]

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