By James Mackenzie ISLAMABAD (Reuters) - The lavish welcome for visiting Saudi Crown Prince Mohammed bin Salman in Islamabad this weekend could hardly have made more clear Pakistan's dependence on foreign investments to prop up its stumbling economy and plug its depleted reserves. Fighter jets escorted the prince's plane across Pakistani airspace and television stations devoted hours of live coverage to the royal motorcade and ceremony, where officials signed memoranda of understanding in energy, minerals and agriculture valued at about $20 billion. With foreign exchange reserves now only enough to cover two months of imports and an economy dogged by weaker growth and rising debt, Pakistan needs investment badly as bailout talks with the International Monetary Fund are moving slowly.
from Latest News Business on Firstpost http://bit.ly/2Ej5Wj3
Tuesday, 19 February 2019
Saudi visit highlights Pakistan's search for investment
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