The State Bank of Pakistan said on Thursday that the United Arab Emirates has confirmed rollover of its two deposits of $1 billion each placed with state bank of Pakistan for another year. The deposits were maturing this month.
Prime Minister Shehbaz Sharif had announced last week that the UAE had agreed to roll over the payment of $2bn due by Pakistan this month.
Securing external financing has previously been a key condition for the IMF to approve the $7bn bailout deal for Pakistan.
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