Saudi Arabia has deposited $2 billion into Pakistan's central bank, the government said Tuesday, a much-needed financial boost ahead of a critical meeting of the International Monetary Fund on the new bailout package for the cash-strapped South Asian country.
In a video statement, Pakistani Finance Minister Ishaq Dar said the kingdom was making good on its promise to bolster Pakistan's foreign exchange reserves. The infusion is not a loan as such but will shore up the reserves and remain with Pakistan's central bank for at least a year.
