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Pakistan’s $2bn in Payments Due to UAE to be Extended
January 8, 2025
Pakistan saw a temporary relief after the UAE agreed to roll over its $2bn in payments due in January. The Prime Minister of Pakistan Shehbaz Sharif confirmed the above, adding that the UAE was also committed to investing a few billion dollars in key investment projects in Pakistan. The IMF has previously considered Pakistan’s securing of external financing as a key condition to approve bail-out arrangements. The IMF’s next review of its $7bn, 37-month loan program to Pakistan is expected in February.
Pakistan’s dollar bonds ticked higher with its 6.875% 2027s up 0.6 points to 91.5, yielding 10.33%.
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