WNA Globe

World News by Wild Rose

#foreign exchange ร—

UAE pulls US$3.5 billion from Pakistan after Iran war mediation

Days before Pakistan had helped to secure a ceasefire in the Iran war this week, the United Arab Emirates was seeking repayment of a US$3.5 billion deposit from Islamabadโ€™s central bank. The withdrawal, brushed off as a โ€œroutine financial transactionโ€ by Pakistanโ€™s foreign ministry, equated to roughly 21 per cent of the countryโ€™s foreign exchange reserves. It was accompanied by a wave of criticism on Emirati social media directed at Islamabad. โ€œWhen our security is directly threatened, we hear...