“The UAE authorities have confirmed to the International Monetary Fund their support of one billion US dollars for Pakistan,” Dar wrote in a tweet on the social networking site Twitter, according to what was reported by the Pakistani newspaper Dawn, today, Friday.
He added that the State Bank of Pakistan “is now working to obtain the necessary documents to receive the aforementioned deposit from the UAE authorities.”
Separately, Dar announced that the Social Investment Bank will also receive today the third and final installment from ICBC of $300 million, out of its $1.3 billion loan.
In another tweet, he said, “Today, the State Bank of Pakistan will receive a third and final payment into its account of $300 million from the approved facility of the Chinese Commercial Bank of China amounting to $1.3 billion (which was paid earlier by Pakistan).”
It is worth noting that bailout funds from the International Monetary Fund constitute an economic lifeline for Pakistan, which is racing against time to avoid defaulting on its debts.
