Pakistan will repay a $3.5 billion loan to the UAE this month, with repayments expected to be completed by April 23. This repayment, which includes overdue amounts, adds significant pressure on the country's foreign exchange reserves, currently at about $16.4 billion. The government is targeting reserves above $18 billion by June under a $7 billion IMF program, which requires the rollover of bilateral deposits. The financial strain is compounded by rising fuel costs and inflation linked to regional conflicts, particularly the Iran war.
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Pakistan Currency Swap Agreements with EU, Russia, Iran Initiated
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Pakistan is set to repay a $3.5 billion loan to the UAE this month, raising pressure on its foreign exchange reserves and risking breaches of IMF program targets. The country also faces a $1.3 billion Eurobond repayment due by June, amid rising inflation and economic challenges.
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