Home / Dada Pota Show / UAE Makes Fresh Pledge SBP Reserves FATF India Crude Oil Politics Dada Pota Show 11-03-2019

UAE Makes Fresh Pledge SBP Reserves FATF India Crude Oil Politics Dada Pota Show 11-03-2019

Dada Pota Show of 11-03-2019. The only program of business and economy in Pakistan.

UAE Makes Fresh Pledge SBP Reserves FATF India Crude Oil Politics Dada Pota Show 11-03-2019

Dada Pota Show 11-03-2019 based on UAE Makes Fresh Pledge SBP Reserves FATF India Crude Oil Politics.

Today, Dada G shared his opinion on important news that UAE makes fresh pledge to deposit $2b in SBP reserves.

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The United Arab Emirates (UAE), one of the top friendly countries of Pakistan, has made a fresh announcement for depositing $2 billion in the State Bank of Pakistan’s (SBP) foreign currency reserves in a bid to help Islamabad smoothly overcome international payment pressure. “These funds are expected to be received shortly by the SBP,” the central bank announced on Saturday.

“Shortly means the deposits may even come in one day,” SBP spokesman Abid Qamar elaborated while talking to The Express Tribune. “These are expected to be received in the next couple of days (if not in one day).”The deposits are coming at a very critical time as Islamabad is all set to make a large external debt payment next month while its reserves have remained under pressure, said Arif Habib Limited Head of Research Samiullah Tariq.

“Pakistan is scheduled to pay off $1 billion for a maturing Eurobond in April…this will be in addition to some other external debt payments during the month,” he said.

Earlier, the UAE had announced a $6-billion friendly assistance package for Pakistan in December 2018, including $3 billion in cash deposits in SBP’s reserves and a credit line of another $3 billion for the supply of petroleum oil to Islamabad on deferred payment.

Abu Dhabi released the first tranche of $1 billion in cash deposit out of the pledged $3 billion in January 2019.

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