Saudi Arabia Extends Financial Support To Stabilise Pakistan's Economy

(MENAFN- Tribal News Network) Saudi Crown Prince Mohammed bin Salman has announced financial assistance of $3 billion to Pakistan in the form of a deposit, in the context of strengthening Pakistan's economic stability and promoting bilateral brotherly relations.

According to informed sources, this development comes at a time when the repayment of more than $3 billion to a Gulf country is underway from Pakistan's foreign exchange reserves, raising concerns about potential financial pressure.

Sources say that this step by Saudi Arabia is aimed at protecting Pakistan from financial strain and helping stabilize its foreign exchange reserves.

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Reports indicate that Saudi Arabia's Finance Minister recently paid a brief visit to Pakistan to inform the Pakistani leadership about the Crown Prince's decision and to assure financial support.

Under the agreement, Saudi Arabia will place an equivalent deposit in the State Bank of Pakistan, which will provide support to the country's foreign exchange reserves.

It is worth noting that approximately $5 billion in Saudi deposits are already held by the State Bank of Pakistan.

Officials say this move reflects the deep strategic ties, mutual trust, and ongoing cooperation between the two countries.

According to sources, Pakistan's leadership, both civilian and military, has expressed gratitude for this development and the special support from the Saudi leadership.

It has also been reported that Prime Minister Shehbaz Sharif will soon visit Saudi Arabia, where he is expected to thank Crown Prince Mohammed bin Salman for the support.

During the visit, discussions are also expected on regional developments, particularly the Iran-US negotiations and Pakistan's diplomatic efforts.

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