KARACHI: Pakistan has returned $2 billion of its debt owed to the United Arab Emirates, the Central Bank of Pakistan announced on Saturday.The State Bank of Pakistan (SBP) announcement comes two days after Saudi Arabia deposited $2 billion, part of $3 billion in aid, with the Pakistani bank.
A State Bank of Pakistan spokesman said the amount was kept with central banks as a safe deposit.
Geo News, citing sources, said in a report issued earlier this month that the UAE recently requested the immediate return of the funds in the wake of the recent situation in West Asia following the US-Israeli war on Iran.Saudi Arabia has reached an agreement, announced on Friday, with the Central Bank of Pakistan allowing the maturity of a $3 billion deposit it has to be extended.
