The State Bank of Pakistan (SBP) announced on Thursday that the United Arab Emirates (UAE) has confirmed the rollover of two deposits, each worth $1 billion, placed with Pakistan.
The deposits, which were set to mature in January 2025, have now been extended for another year.
Earlier this month, Prime Minister Shehbaz Sharif informed the federal cabinet that the UAE had agreed to extend the $2 billion debt, which was due for repayment by Pakistan.
It is important to note that Pakistan’s external debt obligations for fiscal year 2025 total $26.2 billion, of which $12.3 billion are expected to be rolled over.
