Saudi Arabia: At present, Pakistan is going through a very bad economic crisis. Recently, Saudi Arabia, one of its best friends, has announced billions of dollars in aid to Pakistan. After this, now Saudi Arabia has said in the ongoing World Economic Forum 2023 in Davos, Switzerland that from now on it will not give loan to any country without any conditions. Perhaps after hearing this, Pakistan is going to get a shock.
Saudi Arabia’s Finance Minister Mohammad Al-Jadaan said on Wednesday (January 18) that we are going to take these steps to strengthen the country’s economy. He said that we are taking this decision keeping in view the economic sectors of the country. The change in policy made by Saudi Arabia is being seen in a big way.
Saudi Arabia’s identity strong in Gulf countries
Earlier, Saudi Arabia used to give direct loan to any country without any conditions. Saudi Arabia will now give loan to any country only when the country taking the loan will spend the money to improve its own economic condition. The Finance Minister of Saudi Arabia said that we are working closely with many financial institutions. We need to bring reforms in the matter of giving loans.
Explain that Saudi Arabia is identified as a strong Sunni Muslim country in the Gulf countries. It is the world’s largest oil export. He has always been helping his neighboring countries. The countries where Saudi Arabia receives maximum aid include Egypt, Bahrain and Pakistan.
100 billion dollar loan on Pakistan
Recently, former Finance Minister of Pakistan Miftah Ismail had said that at present Pakistan has a debt of $100 billion. 21 billion dollars have to be repaid in this financial year. At the same time, the country has to repay a loan of about $ 70 billion for the next three years. Pakistan’s foreign exchange reserves have been reduced to four billion dollars. During this, the Prime Minister of Pakistan is asking for loans from every neighboring country. However, the change in Saudi Arabia’s lending policy is being seen as evidence that it was not agreeable to its own old policy.
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