UAE extends $2b deposit to Pakistan for another year

UAE extends $2b deposit to Pakistan for another year

Business

The extension will support the country‘s foreign exchange reserves

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KARACHI (Dunya News) – The United Arab Emirates has extended the duration of its $2 billion deposit for Pakistan by one year, according to the State Bank of Pakistan.

The deposit, which was set to mature today, has been renewed to help Pakistan manage financial pressures and strengthen its economic position.

 Read also: UAE rolls over 2bn dollars Pakistan debt, says PM Shehbaz 

The extension will support the country‘s foreign exchange reserves and contribute to economic stability.