UAE President Mohamed bin Zayed visits Pakistan as its economy crumbles

5 days ago Al-Monitor

January 25, 2023UAE President Sheikh Mohamed bin Zayed arrived in crisis-ridden Pakistan on Tuesday for a two-day visit to meet with the country’s Prime Minister Rahim Shebaz Sharif, as the country plunges into an economic mess. The Emirati President was received by Pakistani Prime Minister Shehbaz Sharif and a number of ministers and senior officials. On Monday, a nationwide power outage in Pakistan left nearly 220 million people without electricity. The UAE agreed to lend Pakistan $1 billion on top of deferring its previous $2 billion loan during Sharif's visit to Abu Dhabi earlier this month. With a faltering economy and exchange reserves barely able to cover a month’s worth of imports according to Reuters, Pakistan remains a key asset to the UAE.
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