Saudi Prince’s visit to Pakistan is focused on bailing out Pakistan

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Financial Times—a famous international publication remarks that the upcoming visit of the Saudi Crown Prince—Mohammad Bin Salman to Pakistan would further be simplifying the financial situation of the country, as per the reports of Radio Pakistan.

In a published article, the English daily wrote that the visit of the Saudi Crown Prince comes in mid of negotiations with the International Monetary Fund (IMF) arriving at a point where Pakistan is very close to having a deal with the International Monetary Fund.

The article cites the Dean of the School of Advanced International Studies at John Hopkins Vali Nasr who referred to it as a new chapter for Pakistan.

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He said that the economy is under comparatively less pressure today, and for all that thanks to the reduction in the oil prices, which has slowed down the pace at which Pakistan was running out of the foreign exchange reserves.

Taimur Baig—the Chief Economist for DBS in Singapore said that the currency of Pakistan has dropped slowly by nearly 30 percent against the US dollar since late 2017, hence making the exports of the country more competitive.

The crown prince would be reaching Pakistan on the invitation of the Prime Minister—Imran Khan on Saturday that is the 16th of February.

The crown prince’s 2-day visit of Pakistan would further be promoting the mutual cooperation between the two nations, as informed by the spokesman of the foreign office—Dr. Muhammad Faisal.

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