ISLAMABAD: Pakistan has secured a major financial boost as Saudi Arabia committed an additional $3 billion in deposits, with funds expected to be released within days, Federal Finance Minister Muhammad Aurangzeb announced on Wednesday.
He also revealed that the existing $5 billion Saudi deposit will no longer follow the previous one-year rollover cycle and will instead be extended over a longer term, easing pressure on Pakistan’s external financing needs.
Speaking in Washington, D.C. during the World Bank–IMF Spring Meetings 2026, Aurangzeb said the support comes at a crucial time and will help strengthen foreign exchange reserves and stabilize the country’s external account.
The minister reiterated the government’s target of building reserves to around $18 billion equivalent to roughly 3.3 months of import cover by the end of the fiscal year under the International Monetary Fund programme.
Highlighting recent progress, he noted that Pakistan successfully repaid its $1.4 billion Eurobond, calling it a “non-event,” and assured that all future external obligations would be met on time.
Aurangzeb credited strong coordination between Pakistan’s economic leadership and Saudi officials, including Finance Minister Mohammed bin Abdullah Al-Jadaan, for finalizing the package. He also expressed gratitude to Crown Prince Mohammed bin Salman for continued support.
The minister added that growing international confidence backed by institutions like the World Bank and global investors along with Pakistan’s recent diplomatic efforts, is providing renewed momentum to the economy.
He further highlighted plans to diversify funding sources through initiatives like the Global Medium-Term Note programme and Pakistan’s first Panda Bond issuance, aimed at strengthening market access and ensuring long-term financial stability.
