A senior official confirmed that the UAE has agreed to roll over the quantity till April 17, 2026.
-
Net Desk
-
ISLAMABAD: The United Arab Emirates (UAE) has, in precept, agreed to increase (roll over) Pakistan’s $2 billion deposit for a brief interval of two months.
A senior official confirmed that the UAE has agreed to roll over the quantity till April 17, 2026. The reassurance was given following latest contacts between Ishaq Dar, Pakistan’s Deputy Prime Minister and Finance Minister, and senior UAE officers.
Based on sources, the short-term extension carries an rate of interest of 6.5 %, with formal approval from related authorities anticipated imminently.
The transfer is being seen as important forward of the third evaluation talks between Pakistan and the IMF, notably because the earlier one-month extension was as a consequence of expire in simply 4 days. Islamabad has knowledgeable the UAE that it’ll search a longer-term rollover after concluding negotiations with the IMF.
Earlier in January, the UAE had granted a one-month extension on the deposit, with the third installment of $1 billion scheduled for July 2026.
International Workplace spokesperson Tahir Hussain Andarabi acknowledged that Ishaq Dar is personally overseeing the matter and is actively coordinating with UAE authorities to make sure a easy course of.
He added that figuring out the rollover interval is on the discretion of the lender, and due to the Deputy Prime Minister’s efforts, the rollover has been secured.
The spokesperson additionally clarified that he was not conscious of statements made by Finance Ministry officers within the Standing Committee on Finance, and referenced the Finance Minister’s remarks that Pakistan’s exterior monetary profile stays intact and IMF-related issues are progressing in the appropriate path.
