Published by
Al-Araby
Al-Araby
Even if beggars could be choosers, they would not choose to enter into the loan deal signed by the cash-strapped Pakistan with Saudi Arabia in November. While the deal meets the pressing financial needs of the South Asian country, it serves multiple interests, from financial to geopolitical, of the lending power. On November 29, Pakistan’s central bank and the Saudi Fund for Development (SFD) signed a $4.2 billion deal under which Riyadh will provide $3 billion in safe deposits and $1.2 billion worth of oil supplies on deferred payments to Islamabad. Under the deal, Riyadh can ask Islamabad to…
