Pak Army Chief Reaches Out To UAE, Saudi Arabia For Crucial Bailout Package

Saturday, 6 August 2022newsdesk

Days after seeking US help in securing an early release of a crucial USD 1.7 billion instalment from the International Monetary Fund (IMF) to Pakistan, Army chief General Qamar Javed Bajwa has now reached out to Saudi Arabia and the UAE as part of his efforts to ensure financial assistance for the cash-strapped nation, according to a media report on Saturday.

New Delhi, 06 August 2022

As per news report of NDTV,As the Executive Board of the IMF is set to meet later this month to formally approve the next tranche of USD 1.2 billion instalment, the international lender wants Pakistan to ensure it receives commitment from its friends for financial assistance, the Express Tribune newspaper reported. It is believed that the IMF has asked Pakistan to provide firm guarantees that its friends would provide USD 4 billion for its external requirements. Pakistan is in talks with key allies like Saudi Arabia, the UAE and China to provide the necessary funding, the report said.

Source - NDTV