KARACHI: Pakistan has returned $2 billion it owed in debt to the United Arab Emirates, the country’s central bank said Saturday.The announcement by the State Bank of Pakistan (SBP) comes two days after Saudi Arabia deposited $2 billion, part of the $3 billion aid, with the SBP.
The amount was kept with the central banks as a safe deposit, the SBP spokesperson said.
The UAE recently asked for the immediate return of the funds in the wake of the recent situation in West Asia following the US-Israel war on Iran, Geo News said, quoting sources, in a report earlier in the month.Saudi Arabia reached an agreement, announced on Friday, with SBP which allows for an extension in the maturity of a $3 billion deposit with it.
