Pakistan hires UAE banks to raise $200 million loan | Reuters:
"The government of Pakistan is raising a $200 million syndicated loan with three United Arab Emirates (UAE) banks, banking sources familiar with the matter said, as Islamabad clings to external funding to stave off the pressure of balance payments. The loan, with a one-year maturity, is being arranged by Commercial Bank of Dubai, Emirates NBD, and Noor Bank, said the sources. Pakistan needs to raise funds to offset a drop in international reserves and to fill a fiscal deficit which the International Monetary Fund estimates at 5.5 percent of gross domestic product this year."
'via Blog this'
No comments:
Post a Comment