Saudi Arabia extends $3bn deposit with State Bank of Pakistan
Business
Pakistan just got a financial boost: Saudi Arabia has agreed to extend its $3 billion deposit with the State Bank of Pakistan.
The deal, signed in Washington, D.C., is meant to help keep Pakistan's foreign reserves steady and support the country's economy.
Shehbaz Sharif calls extension crucial
This move highlights the close economic partnership between Pakistan and Saudi Arabia.
With tough external debts looming, this support from Saudi Arabia is a big deal for Pakistan's financial stability.
As Prime Minister Shehbaz Sharif put it, this extension comes at a crucial time and helps keep things on track with IMF requirements.