Pakistan receives $3 billion loan from Saudi Arabia

FILE PHOTO: Saudi Arabia's Crown Prince Mohammed bin Salman meets with Pakistani Prime Minister Imran Khan in Riyadh, Saudi Arabia, October 15, 2019. Bandar Algaloud/Courtesy of Saudi Royal Court/Handout via REUTERS

KARACHI, Pakistan (Reuters) - Pakistan on Saturday received a $3 billion loan from Saudi Arabia, the prime minister's finance adviser said, as part of an economic support package.

The South Asian country has faced growing economic challenges, with high inflation, sliding forex reserves, a widening current account deficit and a depreciating currency.