New from StartUpPakistani
Saudi Arabia will assist and support Pakistan’s financial situation as it seeks to strengthen partnerships with nations that are suffering from high inflation.
As Pakistan desperately needs financial assistance from international allies, the KSA has taken a number of actions to support Pakistan financially in an effort to strengthen its partnerships.
The Saudi Arabian finance minister also disclosed that Riyadh was looking to increase its interests in Egypt and was considering beginning business in Turkey.
Saudi Arabia extended the maturity of a $3 billion investment to increase foreign exchange reserves and aid Pakistan in overcoming the devastating floods’ economic effects.
Major Points:
- According to the Saudi finance minister, his country will assist Pakistan’s finances.
- For the first time since January 2019, reserves drop below $7 billion.
- Saudi Arabia extended the $3 billion deposit’s duration earlier this month.