Saudi Arabia Extends $5 Billion Debt for Pakistan, Easing Financial Pressure
Saudi Arabia has rolled over a $5 billion debt for Pakistan, providing a three-year extension on the cash deposits. This move, coupled with $9 billion in foreign currency purchases by the State Bank of Pakistan (SBP), has eased the country's external sector pressure. The rollover is part of Pakistan's strategy to delay repayments and stabilize its economy. The extension reduces Pakistan's gross external financing requirements to $21.5 billion for the current fiscal year. The SBP has also been active in purchasing foreign currency to bolster reserves, which have reached $28 billion over the past three years. 
