UAE reschedules Pakistan’s 2 billion debt UAE reschedules debt for another year, UAE defers $2 billion loans to Pakistan for one year, private TV reports, A spokesman for the finance ministry said in a statement that Pakistan had to repay the loan to the UAE in March.
According to the Ministry of Finance, the UAE had given the said loan to Pakistan 3 years ago for 3 years. It is believed that China has already delayed the repayment of the loan of 4.38 billion.
This is the second major loan rescheduled in the last 10 days. It may be recalled that China had earlier agreed to rollover over a $25 billion commercial loan to Pakistan. The then Foreign Minister Shah Mehmood Qureshi had said after meeting with Chinese Foreign Minister Wang Zhi that China would provide $25 billion for Pakistan. Billions of dollars in commercial loans have been agreed to be rolled over and all Chinese loans have been informed about the rollover.