The United Arab Emirates (UAE) deferred Tuesday $2 billion debt payment that Pakistan was bound to repay in March, reported 24NewsHD TV channel.

The Finance Ministry officials said that Pakistan was bound to return $2 billion loan to the UAE in March, adding that the UAE authorities agreed to defer the payment of the loan at the request of Pakistan.

“The deferral of the debt will help reduce external financial pressure,” said the finance ministry officials.

It is to be noted here that the UAE had granted a loan of $2 billion to Pakistan in 2019 to help the country overcome economic difficulties.

Reporter: Waqas Azeem