Saudi Arabia tells Pakistan: No more easy money

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Saudi Arabia tells Pakistan: No more easy money


Post by tiger »

Saudi Arabia's decision to refuse to provide any further bailouts or interest-free loans to Pakistan has left the government in Islamabad in shock and has prompted the finance minister to complain that even friendly countries aren’t keen on helping Pakistan out of its economic emergency.

Pakistan is in dire need of sustained US dollar inflows to avoid defaulting on nearly $80bn of international loan repayments over the next three and a half years. The country is currently sitting on just $3bn in foreign exchange reserves. ... -money-end
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