The State Bank of Pakistan (SBP) announced on Thursday that the United Arab Emirates (UAE) has extended the maturity of two $1 billion deposits placed with the central bank.
According to a brief statement, these deposits, originally set to mature in January 2025, will now remain in place for an additional year.
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Earlier this month, Prime Minister Shehbaz Sharif shared with the federal cabinet that the UAE had decided to extend the $2 billion debt, which was approaching its repayment deadline.
Pakistan’s external debt obligations for FY25 stand at $26.2 billion, with $12.3 billion expected to be rolled over.
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