UAE deposits $3 billion with State Bank of Pakistan

The State Bank of Pakistan
Photo: SBP/Abbas Ali Khan

The Abu Dhabi Fund for Development made a $3 billion deposit at the State Bank of Pakistan on January 23. The organisation grants aid on behalf of the UAE government.

The payment was made “to support Pakistan’s economic growth and achieve the long-term objectives of its monetary policy”, the ADFD said in a statement.

Pakistan continues to struggle with balance of payments problems, and is currently negotiating support from the International Monetary Fund. The central bank’s reserves have been

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