Saudi foreign minister arrives in Pakistan to discuss how to help with the country's economic crisis

TOM KRISHER

April 15, 2024

ISLAMABAD (AP) -- Saudi Arabia's foreign minister on Monday led a high-level delegation on a two-day visit to Pakistan, which is seeking help in overcoming one of its worst economic crises.

Prince Faisal bin Farhan's visit comes a week after Prime Minister Shehbaz Sharif met with Crown Prince Mohammed bin Salman in Saudi Arabia, one of Pakistan's closest allies and a a leading supplier of oil to Islamabad.

Prince Faisal is expected to meet with Sharif and President Asif Ali Zardari.

According to Pakistani officials, Prince Mohammed told Sharif that Saudi Arabia would invest $5 billion in Pakistan.

Last year, Saudi Arabia deposited $2 billion into Pakistan's central bank to boost its foreign exchange reserves.

Pakistan is also in talks with the International Monetary Fund to get a new bailout.

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