Saudi Arabia has committed $3 billion in additional deposits for Pakistan, with the funds expected to be disbursed in the coming week, while also extending the existing $5 billion Saudi deposit for a longer period, Finance Minister Muhammad Aurangzeb said in Washington, D.C..
Speaking to the media on the sidelines of the World Bank IMF Spring Meetings 2026, Aurangzeb said the additional support comes at a critical time for Pakistan’s external financing needs and will help strengthen foreign exchange reserves and the country’s external account.
He said the existing $5 billion Saudi deposit will no longer remain under the earlier annual rollover arrangement and instead will be extended over a longer period, providing added stability to Pakistan’s reserve position.
The finance minister reiterated the government’s target of achieving around $18 billion in reserves, equivalent to approximately 3.3 months of import cover, by the end of the fiscal year.
Aurangzeb also highlighted that Pakistan had successfully repaid its $1.4 billion Eurobond last week, describing it as a “non event,” and reaffirmed the government’s commitment to meeting all upcoming external obligations and maturities on time.
Referring to his engagements in Washington, he said he, along with the Governor of the State Bank of Pakistan and Pakistan’s ambassador to the United States, held a detailed meeting with Saudi Finance Minister Mohammed bin Abdullah Al-Jadaan.
He added that he had also met the Saudi finance minister in Islamabad the previous Friday but the government had deliberately avoided public comment until formal communication was received.
Aurangzeb expressed gratitude to Saudi leadership, particularly Mohammed bin Salman, the Saudi finance minister, and the Saudi vice finance minister for their continued support and cooperation. He also acknowledged the role of Pakistan’s leadership, including the prime minister, deputy prime minister, military leadership, and finance officials, in securing and operationalizing the support package.
The minister said Pakistan is also advancing its broader external financing strategy, including the Global Medium Term Note programme and the planned inaugural Panda Bond issuance, as part of efforts to diversify funding sources and strengthen market access.
He concluded by reaffirming the government’s commitment to macroeconomic stability, timely debt repayments, and sustained engagement with bilateral and multilateral partners.
