ISLAMABAD – Pakistan has decided to pay $2 billion to United Arab Emirates after securing funds from alternative sources. The decision comes as the country works to meet several major financial obligations in the coming months.
A report shared by Geo News said the South Asian nation must make total external payments of $4.8 billion by June, and authorities say arrangements have already been made to cover these payments.
Sources also claim that Pakistan received assurances of more than $5 billion in financial support from two friendly countries, strengthening its ability to meet upcoming obligations.
Pakistan owes a total of $3.5 billion to the UAE through three different financial arrangements. In addition, a 10-year Eurobond has reached maturity, and the government is expected to make a payment of $1.3 billion on the Eurobond later this week.
Officials said the decision to proceed with the $2 billion payment to the UAE was taken only after confirming that alternative funding sources were secured, ensuring Pakistan can manage its immediate financial commitments.
