The Saudi Ministry of Finance confirmed that the Kingdom is using the tools available to provide support to address the effects of the “Covid-19” pandemic, including support for liquidity from foreign exchange.
The ministry explained in a press release that the Kingdom is one of the main countries that supported the countries’ foreign reserves during the pandemic, noting that it recently provided a deposit of $ 3 billion to the Central Bank of Egypt, as well as extending previous deposits by $ 2 , 3 billion.
It further indicated that, in addition to that, a deposit of $ 3 billion was made with the Central Bank of Pakistan, with Provide $ 1.2 billion in trade finance to support Pakistan’s balance of payments.
The ministry said these external facilities, totaling $ 9.5 billion, are equivalent to about 70% of the Special Drawing Rights that were recently awarded to the Kingdom by the International Monetary Fund.
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