US EditionPakistan has agreed $1 billion loan with two Middle East banks
- Pakistan has finalized terms for a $1 billion loan from two Middle Eastern banks at a 6%-7% interest rate, as announced by Finance Minister Muhammad Aurangzeb during the World Economic Forum's annual meeting.
- The loans are short-term, with a tenure of up to one year, and are part of Pakistan's plan to raise $4 billion from Middle Eastern banks by the next fiscal year.
- Pakistan aims to improve its credit rating, with Moody's and Fitch recently upgrading it to 'Caa2' and 'CCC+' respectively, due to better macroeconomic conditions.
- The first review of the $7 billion IMF Extended Fund Facility is scheduled for late February 2025, with discussions on additional funding for climate initiatives expected to advance during the IMF mission.
24 Articles
24 Articles
Pakistan secures $1b loan from two Middle Eastern banks
Finance Minister Muhammad Aurangzeb announced on Tuesday that Pakistan has finalised terms for a $1 billion loan from two Middle Eastern banks, marking another step in the country’s efforts to secure much-needed financing. The loans, agreed at an interest rate of 6-7%, were confirmed during an interview at the World Economic Forum's annual meeting. Aurangzeb revealed that the agreements include one bilateral loan and one trade financing arrangem…
Pakistan Secures $1 Billion Loan from Middle Eastern Banks to Strengthen Financial Stability - Republic Policy
On Tuesday, Finance Minister Muhammad Aurangzeb announced that Pakistan has finalized a $1 billion loan agreement with two Middle Eastern banks, offering interest rates ranging from six to seven percent. This step is part of Pakistan’s broader strategy to secure additional financing. In an interview at the World Economic Forum in Davos, Aurangzeb explained that the terms had been set with one bilateral institution and one bank focused on trade f…
Pakistan Secures $1 Billion Loan, Focuses on Economic Reforms and Growth Initiatives - The Financial Daily
Economic Developments $1 Billion Loan Agreement: Pakistan has secured a $1 billion short-term loan from two Middle Eastern banks with a 6-7% interest rate. IMF Extended Fund Facility (EFF): A $7 billion IMF bailout was secured in September 2024. The first review is scheduled for late February 2025, with discussions on an additional $1 billion from the Resilience and Sustainability Trust for climate-related spending. Economic Indicators & Reform…
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