Pak gets Saudi’s nod for additional $2 bn funding to secure IMF bailout

Islamabad: Cash-strapped Pakistan has received the nod for funding of an additional USD 2 billion in deposits from Saudi Arabia, a move that will help the country secure the much-required bailout from the IMF, according to media reports on Thursday.

The Saudi leadership is set to make a public announcement, probably during the upcoming visit of Prime Minister Shehbaz Sharif to the Kingdom, reported The News.

The Saudi ambassador in Pakistan had also hinted recently that his country had always supported Pakistan in critical situations and good news would be shared soon, it said. Pakistan’s government is now anxiously waiting to secure verification from the UAE on an additional USD 1 billion deposit.