ISLAMABAD – Finance Minister Senator Muhammad Aurangzeb has said that Saudi Arabia’s $3 billion loan has been rolled over and that the matter of the Saudi loan has been deferred until an appropriate time.
Talking to the media at Parliament House, he said he had held a very good meeting with the Saudi finance minister on the issue. He said Pakistan had good relations with Saudi Arabia, there was no need to worry, and no additional financial support was needed from the kingdom for the time being.
The finance minister said the country had three months of import cover. He noted that Pakistan has to pay about 1.5 billion euros every year against Eurobonds, and that the government’s effort was to ensure that no government faces difficulty in making Eurobond payments.
Aurangzeb added that the International Monetary Fund (IMF) board meeting could take place in December, but the date had not yet been confirmed.
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