ISLAMABAD: The Abu Dhabi Fund for Development (ADFD) has rolled over their deposit of $2 billion with the State Bank of Pakistan (SBP).
The finance minister in a tweet disclosed that Prime Minister Shehbaz Sharif had discussed the rollover with the United Arab Emirates (UAE) President Sheikh Mohammed bin Zayed al-Nahyan, during his recent visit to the country.
It is pertinent to mention here that the UAE President had agreed to roll over the existing loan of $2 billion and provide a $1 billion additional loan.
Sources said that Pakistan’s repayment burden has now reduced to $11 billion during this fiscal year.
Presently, the State Bank has foreign exchange reserves of four and a half billion dollars and these Foreign exchange reserves with the central bank are equivalent to three weeks’ worth of import bills.
