HomeWorldPakistanPakistan to receive $2 billion from Qatar in bilateral support: report

Pakistan to receive $2 billion from Qatar in bilateral support: report

Finance Minister Miftah Ismail met with Qatari counterpart Ali bin Ahmed Al-Kuwari on August 22, 2022 — Twitter/@MoF_Qatar

Pakistan could receive $2 billion in bilateral support from Qatar to help soften it financial crunch and after risk of default.

Country also $1 billion expected from Saudi Arabia in oil finance and in investments from the UAE worth similar amount.

During the briefing by Murtaza Sayed – State Bank of Acting Governor of Pakistan – Revealed funds pending in span of over 12 months.

Prime Minister Shahbaz Sharif also visit to Qatar from 23 to 24 August. However, Syed shared that announcement about help may or may not be announced during the visit.

Commitments arrive to the IMF board meeting on August 29, what could lead to release of $1.2 billion in financing.

Earlier today, Finance Minister Miftah Ismail met his Qatari counterpart Ali bin Ahmed Al-Kuwari will discuss bilateral relations and explore areas of joint cooperation.

Formerly Arab. countries undertook to lend support Pakistan only after he manages to enlist the support of the IMF. program, while the latter sought commitments from Saudi Arabia.

The Pakistani rupee performed well this month, according to data tracked by Bloomberg. on in global ahead, gaining 11% since falling to record short last month. After the events marked on rupee-dollar parity front, worries related to possible disappeared by default.

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Derrick Santistevan
Derrick Santistevan
Derrick is the Researcher at World Weekly News. He tries to find the latest things going around in our world and share it with our readers.

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