Pakistan, Saudi Arabia to discuss extending term of $3b loan

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Al-Araby

Pakistan and Saudi Arabia on Sunday said they would discuss extending the terms of a $3 billion loan to help Islamabad’s faltering economy. The Gulf nation has long been an intelligence partner of Pakistan as well as a regular source of financial relief for successive governments. The latest sign of support follows a visit to Saudi Arabia by new Prime Minister Shehbaz Sharif, who has inherited a crippling national debt, galloping inflation and a feeble rupee. A joint statement said the kingdom would continue to support the Pakistani economy and had discussed “augmenting the $3 billion deposit …

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