The Foreign Office on Saturday rejected “misleading and unfounded” reports concerning the return of debt of United Arab Emirates (UAE), saying the repayment is a routine financial transaction. It said Islamabad has decided to repay the UAE’s $2 billion deposits, along with 6% interest, on April 17. Additionally, $1.3 billion will be repaid upon the maturity of a Eurobond on April 8, 2026.
In total, Pakistan will have to make two major repayments of external loans amounting to $3.5 billion, including principal and markup.
However, the Foreign Office rejected the reports, saying the funds were placed with the central bank under bilateral commercial agreements.
