Saudi Foreign Minister arrives in Pakistan to discuss the country’s economic crisis

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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 leading supplier of oil to Islamabad.

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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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