{"id":162752,"date":"2020-12-18T08:30:18","date_gmt":"2020-12-18T03:30:18","guid":{"rendered":"https:\/\/leadpakistan.com.pk\/news\/?p=162752"},"modified":"2020-12-18T08:30:18","modified_gmt":"2020-12-18T03:30:18","slug":"pakistan-returns-1b-of-saudi-arabias-3b-loan","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/pakistan-returns-1b-of-saudi-arabias-3b-loan\/","title":{"rendered":"Pakistan returns $1b of Saudi Arabia\u2019s $3b loan"},"content":{"rendered":"<p>Beijing had agreed to provide a $1b financing line to Islamabad to repay the Saudi debt<br \/>\nTLTP<br \/>\nISLAMABAD<br \/>\nPakistan has returned second instalment of $1 billion of the $3 billion loan given by the Kingdom of Saudi Arabia much ahead of schedule, mainly due to pressure from Riyadh, albeit no side officially confirms it.<br \/>\nThis came possible after China agreed to provide another $1 billion financing line to Pakistan for the second time in this year. Earlier this year, Pakistan repaid $1 billion to KSA in the first quarter of the current fiscal year with China\u2019s help.<br \/>\nWith the latest repayment, Pakistan has so far repaid $2 billion out of the total $3 billion debt. The last tranche of $1 billion will be repaid next month.<br \/>\nIn late 2018, Saudi Arabia had given Pakistan a $3 billion loan and a $3.2 billion oil credit facility. The money had been deposited in State Bank of Pakistan on December 15, 2018 with a three years maturity period.<br \/>\nSo far, increased remittances helped Islamabad avoid an eruption of a full-fledged balance of payments crisis as remittances from abroad remained over $2 billion in the last five months.<br \/>\nPakistan returned the instalment of the Saudi loan after getting a commercial loan from China. After repayment of the second instalment, the country\u2019s foreign exchange reserves stand at $13.3 billion. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Beijing had agreed to provide a $1b financing line to Islamabad to repay the Saudi debt TLTP ISLAMABAD Pakistan has returned second instalment of $1 billion of the $3 billion loan given by the Kingdom of Saudi Arabia much ahead of schedule, mainly due to pressure from Riyadh, albeit no side officially confirms it. This [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":162758,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-162752","post","type-post","status-publish","format-standard","has-post-thumbnail","category-top-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pakistan returns $1b of Saudi Arabia\u2019s $3b loan<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadpakistan.com.pk\/news\/pakistan-returns-1b-of-saudi-arabias-3b-loan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pakistan returns $1b of Saudi Arabia\u2019s $3b loan\" \/>\n<meta property=\"og:description\" content=\"Beijing had agreed to provide a $1b financing line to Islamabad to repay the Saudi debt TLTP ISLAMABAD Pakistan has returned second instalment of $1 billion of the $3 billion loan given by the Kingdom of Saudi Arabia much ahead of schedule, mainly due to pressure from Riyadh, albeit no side officially confirms it. 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