KSA finalising extension of $3 billion deposit to Pakistan: Saudi Minister

KSA finalising extension of $3 billion deposit to Pakistan: Saudi Minister

ISLAMABAD, May 24 (APP): Saudi Minister of Finance Mohammed al-Jadaan said that Kingdom of Saudi Arabia was finalising the extension of $3 billion deposit to Pakistan.

“We are currently finalising extending $3 billion deposit to Pakistan,” he told Reuters on the sidelines of the World Economic Forum in Davos.

Last year, Saudi Arabia deposited $3 billion in Pakistan’s central bank to help support its foreign reserves.

Jadaan said Pakistan was an important ally and the Kingdom would stand behind the Pakistani nation.

The government of Pakistan is also holding talks for the revival of an International Monetary Fund programme. The IMF is likely to conclude ongoing talks over a 7th review in Doha.