Pakistan Requests Saudi Arabia to Extend $5 Billion Deposit Amid Economic Crisis

Pakistani media have reported that Islamabad, amid economic turmoil and regional tensions, has submitted eight key requests to Saudi Arabia. The most important of these is the conversion of Saudi Arabia’s short-term $5 billion deposit into a long-term 10-year facility.

According to these reports, Pakistan has also sought to increase the ceiling of oil facilities with deferred payment from $1.2 billion to $5 billion. In this proposed plan, a three-year deadline is considered for each repayment installment.

It is said that these requests aim to ease pressure on foreign exchange reserves and stabilize Pakistan’s financial markets. The country’s economy has faced extensive challenges in recent years, including rising external debts and depreciation of the national currency.

So far, Saudi officials have not officially commented on these requests, and it remains unclear what decision Riyadh will make regarding the matter.