The Qatar Investment Authority aims to invest $3 billion in Pakistan, Qatar‘s Emiri Diwan said on Wednesday, lending support to the South Asian nation’s cash-strapped economy.
Pakistan is in economic turmoil and faces a balance of payments crisis, with foreign reserves having dropped as low as $7.8 billion, barely enough for more than a month of imports. It is also contending with a widening current account deficit, depreciation of the rupee against the U.S. dollar and inflation that hit more than 24% in July.
