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Pakistan – Ties with Saudi Arabia are on a historically low ebb. Saudi Arabia announced a $6.2 billion US loan package for cash-strapped Pakistan in November 2018.
Pakistan – Ties with Saudi Arabia are on a historically low ebb. Saudi Arabia announced a $6.2 billion US loan package for cash-strapped Pakistan in November 2018.
The plan included a total of $3 billion in loans, and a $3.2 billion oil credit facility. But then, Riyad demanded the return of the $3 billion loan and refused to sell oil on deferred payment to Islamabad.
Pakistan, in response, immediately returned to the Saudis $1 billion, signaling a distance from Riyadh. Apparently, the differences between the two countries emerged after Saudi Arabia sided with India in recent tensions over Kashmir.
