Pakistan decided to write off all debts of Saudi Arabia

Pakistan decided to write off all debts of Saudi Arabia

Pakistan pays عرب 2 billion out of ارب 3 billion to Saudi Arabia, begins preparations to pay last installment

pakistan decided to write off the entire debt of Saudi Arabia. According to the details, Pakistan has repaid another one billion dollars to Saudi Arabia. Saudi Arabia had given a loan of 3 billion dollars to Pakistan on soft terms. Loans to Saudi Arabia. The friendly country China helped Pakistan for the second repayment of the loan and gave a commercial loan to Pakistan.

It has been reported that Pakistan has decided to repay all the debts of Saudi Arabia as soon as possible. Under this strategy, efforts have been started to repay the last installment to Saudi Arabia. Will repay the third installment of the loan. The second installment of the loan was to be repaid to Pakistan before December 31, but the loan was repaid ahead of time.

Pakistan now owes Saudi Arabia قرض 1 billion, which will be repaid in January next year. Pakistan had borrowed 3 3 billion from Saudi Arabia two years ago. Pakistan had repaid a ڈالر 1 billion loan to Saudi Arabia in August this year for fear of defaulting on international loans. Saudi Arabia had announced a پ 6.2 billion financial package to Pakistan for three years in October 2018.

One and a half years ago, ڈالر 3.2 billion in cash and late payments included oil and gas facilities. It should be noted that the currency swap agreement between Pakistan and China was signed in November 2018, under which bilateral trade in local currencies Promoting will facilitate foreign exchange reserves and balance of payments. Now, under the same agreement, China has provided assistance to Pakistan. It may be recalled here that Pakistan had borrowed ارب 3 billion from Saudi Arabia on easy terms two years ago after its foreign exchange reserves had dwindled to a dangerous level.