Minister says Pakistan ‘committed’ to repay US$3 billion loan from UAE

Pakistan is considering financing from both countries and banks as options to repay a US$3 billion loan from the United Arab Emirates and help maintain foreign exchange reserve levels amid soaring oil prices, Finance Minister Muhammad Aurangzeb said. The South Asian country this month failed to reach an agreement with the UAE to roll over the debt for the first time in seven years, adding pressure on external buffers at a time when the economy is getting hit by the fallout from the conflict i...

By Bloomberg

Aurangzeb says all options on table to replace UAE’s $3.5bn funding, weighs strategic fuel reserve

Pakistan is considering Eurobonds, loans from other countries and commercial debt to replace a $3.5 billion facility from the United Arab Emirates (UAE) and manage its foreign reserves, Finance Minister Muhammad Aurangzeb said. Aurangzeb also told Reuters the shock from the ongoing war in the Middle East meant that Pakistan must consider a strategic petroleum reserve and a faster switch to renewable energy. “All options are on the table,” Aurangzeb said when asked if the government was in tal...

By none@none.com (Reuters)

Pakistan Weighs 'All Options' To Repay $3 Billion UAE Loan

The country's foreign-exchange reserves stood at $16.4 billion as of March 27, enough to cover close to three months of imports.