Pakistan Receives $1 Billion Saudi Boost as UAE Seeks Repayment

Pakistan has received the final $1 billion tranche of a $3 billion support package from Saudi Arabia, shoring up the South Asian nation’s foreign exchange reserves after the UAE declined to rollover its debt.

The funds were transferred by the Kingdom’s finance ministry on April 20, after the first tranche of $2 billion was received by the nation’s central bank last week, State Bank of Pakistan announced in a statement on Tuesday.