ISLAMABAD: Pakistan's Minister for Finance and Revenue Muhammad Aurangzeb said that Saudi Arabia has committed an additional $3 billion in deposits to Pakistan, with disbursement expected within a week, providing timely support for the country’s external financing needs.
Speaking to the media on the sidelines of the World Bank-IMF Spring Meetings 2026, the finance minister said the Kingdom has also agreed to extend its existing $5 billion deposit for a longer period, moving away from the earlier annual rollover arrangement.
Aurangzeb said the fresh inflows would help strengthen Pakistan’s foreign exchange reserves and support its external account, as the government aims to build reserves to around $18 billion, equivalent to about 3.3 months of import cover, by the end of the current fiscal year.
He said Pakistan remains committed to meeting all external obligations on time, noting that the recent repayment of a $1.4 billion Eurobond was completed smoothly.
The minister said Pakistan’s external financing plan is well-defined and being implemented in a disciplined manner under the IMF-supported program.
He added that during his visit, he held detailed talks with Saudi Finance Minister Mohammed bin Abdullah Al-Jadaan and senior Pakistani officials to finalize the support package.
Aurangzeb expressed gratitude to the Saudi leadership, particularly Crown Prince Mohammed bin Salman, for continued financial backing and close cooperation.
He said Pakistan is receiving strong recognition from international financial institutions, including the International Monetary Fund and the World Bank, as well as global investors, for its economic reforms and diplomatic engagement.
The minister added that Pakistan is advancing efforts to diversify funding sources through initiatives such as the Global Medium-Term Note program and a planned Panda Bond issuance.
Aurangzeb reaffirmed the government’s commitment to macroeconomic stability, continuity of reforms, and sustained engagement with bilateral and multilateral partners.
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