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UAE set to help Pakistan’s ailing economy–high level delegation to visit Islamabad

Pakistan PM Shehbaz Sharif

A high powered delegation from the UAE will arrive in Pakistan to discuss ways to expand economic, trade and investment cooperation.

Pakistan Prime Minister Shehbaz Sharif paid a visit to the UAE just a few days ago on his way back from Saudi Arabia.

“During his visit, PM Shehbaz met Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. They discussed advancing the longstanding relations between the two nations, and the prospects of propelling cooperation on various fronts,” Pakistan based newspaper Dawn said.

Saud Arabia has already extended a massive loan of about $8 billion to Pakistan.

The UAE has also rolled over its $2 billion deposits, which are lying with the State Bank of Pakistan (SBP).

Pakistan’s external debt surged to $130632 million by the end of December 2021. In the July to September quarter it was $127023 million..

Pakistan’s external debt surged to $130 billion by the end of December 2021. In the July to September quarter it was $127 billion.

“After the Sri Lankan economic crisis, Pakistan is taking no chances and as of now, what we can say is that the Sharif government is at least showing the conviction to clean up the financial mess and put the economy back on track,” an analyst told India Narrative.

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