The State Bank of Pakistan (SBP) Thursday said that the United Arab Emirates (UAE) has confirmed rollover of its two deposits of $1 billion each placed with it.
In a short statement, the central bank said that the deposits, maturing in January 2025, have been extended for one year.
Earlier this month, Prime Minister Shehbaz Sharif had informed the federal cabinet that UAE has announced to extend the $2 billion debt that was due to be paid back by Pakistan.
It is pertinent to mention here that Pakistan’s external debt obligations amount to $26.2 billion for FY25, of which $12.3 billion are likely to be rolled over.
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