{"id":63219,"date":"2025-01-21T22:38:36","date_gmt":"2025-01-21T17:38:36","guid":{"rendered":"https:\/\/dailyausaf.com\/en\/?p=63219"},"modified":"2025-01-21T22:38:36","modified_gmt":"2025-01-21T17:38:36","slug":"pakistan-secures-1-bln-loan-from-middle-eastern-banks-for-economic-stabilization","status":"publish","type":"post","link":"https:\/\/dailyausaf.com\/en\/business\/pakistan-secures-1-bln-loan-from-middle-eastern-banks-for-economic-stabilization\/","title":{"rendered":"Pakistan secures $1 bln loan from Middle Eastern banks for economic stabilization"},"content":{"rendered":"<p>ISLAMABAD: Finance Minister <a href=\"https:\/\/dailyausaf.com\/en\/latest-news\/muhammad-aurangzeb-gets-pakistani-citizenship-after-cabinet-approval\/\">Muhammad Aurangzeb<\/a> announced in an interview with Reuters on Tuesday at the World Economic Forum (WEF) annual meeting in Davos that Pakistan has secured a $1 billion loan from two Middle Eastern banks. The interest rate on the loan is 6%-7%.<\/p>\n<p>Aurangzeb clarified that the agreement involves two entities: one providing bilateral financing and the other offering trade finance. Both the loans are short-term with maturities of up to one year.<\/p>\n<p>The funding comes as Pakistan seeks to shore up its finances after a $7 billion bailout package it secured from the International Monetary Fund (IMF) in September 2024.<\/p>\n<p>Expressing confidence, Aurangzeb said, \u201cWe have the first formal review of the EFF by the end of February\u2026 I think we are in a good position for that review.\u201d<\/p>\n<p>The IMF\u2019s EFF program provides financial assistance to countries facing serious medium-term balance of payments problems stemming from structural weaknesses that require sustained efforts to address.<\/p>\n<p>The $1 billion loan from Middle Eastern banks is a significant step in Pakistan\u2019s efforts to stabilize its economy.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ISLAMABAD: Finance Minister Muhammad Aurangzeb announced in an interview with Reuters on Tuesday at the World Economic Forum (WEF) annual meeting in Davos that Pakistan has secured a $1 billion loan from two Middle Eastern banks. The interest rate on the loan is 6%-7%. Aurangzeb clarified that the agreement involves two entities: one providing bilateral [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":12101,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[4688,12102],"class_list":["post-63219","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-world-economic-forum","tag-muhammad-aurangzeb"],"_links":{"self":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/63219","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/comments?post=63219"}],"version-history":[{"count":1,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/63219\/revisions"}],"predecessor-version":[{"id":63220,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/63219\/revisions\/63220"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media\/12101"}],"wp:attachment":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media?parent=63219"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/categories?post=63219"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/tags?post=63219"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}