Pakistan’s central bank has announced that the country has repaid its entire $3.45 billion loan to the United Arab Emirates.
According to the report, $1 billion was paid to the Abu Dhabi Fund for Development on April 23, and the remaining $2.45 billion was settled before that.
The move comes as Pakistani officials have described it as an effort to maintain economic stability and national dignity, despite pressure on the country’s foreign exchange reserves.
This debt was reportedly provided in 2019 as part of the UAE’s financial assistance to support Pakistan’s balance of payments.
