Pakistan repays $3.45bn loan to Abu Dhabi Fund for Development
Pakistan has just paid back a $3.45 billion loan to the United Arab Emirates, according to its central bank.
This big repayment was made possible after Pakistan got some fresh funds, including a $2 billion deposit from Saudi Arabia (part of a larger $3 billion support package).
The original loan came from the Abu Dhabi Fund for Development and had already been extended before.
Pakistan repayment eases FX reserves pressure
This repayment is a key move in Pakistan's effort to keep its debt under control, especially with the the International Monetary Fund (IMF) requirements in play.
The United Arab Emirates wanted its money back right away, so Pakistan made it happen.
Clearing this debt should take some pressure off the country's foreign exchange reserves (which were hovering around $16 billion) and help keep things financially steady as more repayments come up.