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Pakistan Likely to Get UAE ‘Assurance’ for $1 Billion this Week

UAE set to offer written assurance to provide $1B in external finance.

The source claimed the change came as a result of a special request for assurance from the UAE authorities made by the finance minister, Ishaq Dar.

Since the end of January, Pakistan and the IMF have been discussing the release of $1.1 billion from a 2019 rescue agreement that totaled $6.5 billion.

In order to release the loan program that had stalled, International Monetary Fund (IMF) required the Pakistani government to get a formal guarantee for the deposit from friendly nations.

In a meeting with them in Washington, they further claim that the finance secretary will brief the IMF representatives.

On April 6, it was revealed that the International Monetary Fund (IMF) had received confirmation from Saudi Arabia that it would be making an extra $2 billion in deposits to Pakistan.

They said that the Saudi government will likely make a public announcement, maybe during Prime Minister Shehbaz Sharif’s planned trip to the country.

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