Karachi (Commerce Desk) Pakistan has made an additional payment of $1 billion to the United Arab Emirates in the form of deposits, bringing the total repayment to $3.45 billion.
According to the State Bank of Pakistan, the payment was made to the Abu Dhabi Fund for Development. Earlier last week, Pakistan had also repaid $2.45 billion to the UAE.
Officials said that timely repayments reflect the country’s commitment to financial discipline and reducing external financial obligations.
The State Bank further reported an increase in foreign exchange reserves. Official reserves rose slightly to $15.0976 billion, while commercial banks’ reserves stood at $5.53 billion.
According to the central bank, the total foreign exchange reserves increased by $104 million in the past week. It was also reported that $1 billion inflow from Saudi Arabia was recorded, while the UAE payment will be reflected in next week’s data.
