- October 24, 2018
- Posted by: Godwin Elijah
- Category: International
Saudi Arabia has agreed to give Pakistan 3 billion dollars for a period of one year as the South Asian country faces an economic crisis marked by a mounting balance of payments deficit and dwindling foreign currency reserves.
The agreement came during a visit by Pakistan’s Prime Minister Imran Khan to Riyadh, where he met King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman.
Meanwhile the Gulf kingdom also pledged an additional loan worth up to 3 billion dollars in deferred payments for oil imports.