ABU DHABI: The United Arab Emirates (UAE) on Tuesday will sign off the $3 billion balance-of-payments support package for Pakistan which is expected to “enhance liquidity and monetary reserves of foreign currency” at the State Bank of Pakistan (SBP). This package “to support the financial and monetary policy of the country” was announced late last year. This is part of a $6.2 billion support package from UAE to Pakistan to help address the economic crisis of balance of payments. Earlier this month, Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed bin Sultan Al-Nahyan paid a visit to Pakistan for the first time in 12 years. The visit came after the PM invited the prince on his visit to the UAE, making it the third meeting over the past three months.

Source: Pakistan Today January 22, 2019 09:22 UTC