Finance Minister Muhammad Aurangzeb has announced that Saudi Arabia has committed an additional $3 billion in deposits to support Pakistan’s external financing position, with the disbursement expected in the coming week.
Speaking to the media on the sidelines of the World Bank–IMF Spring Meetings 2026 in Washington, D.C., the finance minister said the Kingdom had also agreed to extend the tenure of its existing $5 billion deposit beyond the earlier annual rollover arrangement, providing longer-term support to Pakistan’s foreign exchange reserves.
Aurangzeb said the additional financial assistance comes at a critical time and would help strengthen the country’s external account and reinforce reserve buffers. He reiterated the government’s commitment to maintaining reserves in line with obligations under the International Monetary Fund-supported programme, including a target of around $18 billion in reserves—equivalent to approximately 3.3 months of import cover—by the end of the current fiscal year.
The minister noted that Pakistan had successfully repaid its $1.4 billion Eurobond last week, describing the repayment as routine and reaffirming the government’s commitment to meeting all upcoming external obligations on time. He said the country’s external financing strategy remains clearly defined and is being implemented in a disciplined manner.
During his visit to Washington, Aurangzeb, along with the governor of the State Bank of Pakistan and Pakistan’s ambassador to the United States, held a detailed meeting with Mohammed bin Abdullah Al-Jadaan to discuss bilateral financial cooperation. He added that although earlier discussions had taken place in Islamabad, the government had refrained from making public statements until formal confirmation was received.
Aurangzeb expressed gratitude to Mohammed bin Salman, the Saudi finance minister, and the Saudi vice finance minister for their continued support and cooperation in finalizing the package. He also acknowledged the role of Pakistan’s political and economic leadership in securing the additional financial assistance.
The finance minister said Pakistan was receiving encouraging feedback from international financial institutions, including the World Bank and the IMF, as well as institutional investors during meetings in Washington. He noted that improving international sentiment and timely financial support from Saudi Arabia would help strengthen confidence in the country’s economy and external sector outlook.
He added that Pakistan is also advancing its broader external financing strategy, including the recently announced Global Medium-Term Note (GMTN) programme and plans for its inaugural Panda Bond issuance, as part of efforts to diversify funding sources and improve access to international capital markets.
Aurangzeb reaffirmed the government’s commitment to maintaining macroeconomic stability, meeting external obligations, and continuing reforms in coordination with bilateral and multilateral partners.
