Saudi Arabia breaks ties with Pakistan, may have to repay $ 2 billion loan
Saudi Arabia breaks ties with Pakistan, may have to repay $ 2 billion loan
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Islamabad: Saudi Arabia has severed its relationship with Pakistan, after which now Pakistan will have to repay the debt of 2 billion dollars. Pakistan Foreign Minister Shah Mehmood Qureshi challenged Saudi Arabia over Kashmir. Pakistan also sent its army chief Qamar Bajwa to persuade Saudi, angered by Qureshi's remarks, but to no avail. According to Pakistani media reports, Pakistan may have to repay the debt of $ 2 billion to Saudi Arabia next month.

According to the report of Pakistan's leading newspaper 'The Express Tribune', sources in the Ministry of Finance of Pakistan have informed that the government is preparing to repay the debt of Saudi Arabia and it is also trying to raise debt from other sources. So that the foreign exchange reserves remain at $ 12 billion. Pakistan's economy is already wavering and inflation is at its peak, it will be very difficult for him to repay Saudi's debt.

Sources say that the second instalment of Saudi Arabia's loan term is coming up next month and the government is expected to return the loan two years ago. This instalment was worth $ 1 billion. When Pakistan's economy went into a trough and was facing a payment crisis, Saudi Arabia gave Pakistan an economic package of about $ 6.2 billion. This saved Pakistan from being a defaulter.

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