WASHINGTON, April 15, 2026 – Pakistan’s Finance Minister Muhammad Aurangzeb said on Wednesday that Saudi Arabia has committed an additional $3 billion in deposits for Pakistan, a move expected to strengthen the country’s foreign exchange reserves and support external financing stability.
Speaking to media on the sidelines of the World Bank–IMF Spring Meetings 2026 in Washington, D.C., Aurangzeb said the disbursement of the new deposits is expected in the coming week. He added that the support reflects continued confidence from Saudi Arabia in Pakistan’s economic management and reform programme.
According to a statement from the Ministry of Finance, the existing $5 billion Saudi deposit will no longer remain subject to an annual rollover arrangement. Instead, it will be extended for a longer duration, providing greater stability to Pakistan’s external account framework.
Aurangzeb said the financial support comes at a “critical time” for Pakistan’s external financing needs and will help reinforce foreign exchange reserves, which remain a key focus under the government’s economic stabilization strategy and the ongoing IMF-supported programme.
He reiterated the government’s objective of building reserves to approximately $18 billion by the end of the fiscal year, equivalent to around 3.3 months of import cover. The minister said maintaining adequate reserves remains central to Pakistan’s macroeconomic stability plan.
Highlighting recent debt management efforts, Aurangzeb noted that Pakistan successfully repaid a $1.4 billion Eurobond last week, describing the repayment as a “non-event” due to the government’s pre-arranged financing strategy. He said Pakistan remains fully committed to meeting all upcoming external obligations on time.
He said the country’s external financing framework is clearly defined and being implemented in a disciplined and structured manner, with support from multilateral partners and friendly countries.
Aurangzeb said he held detailed discussions with Saudi Finance Minister Mohammed bin Abdullah Al-Jadaan during meetings in Washington, which were also attended by the Governor of the State Bank of Pakistan and Pakistan’s Ambassador to the United States. He added that he had also met the Saudi finance minister earlier in Islamabad.
The minister said the government had refrained from public comment earlier due to the absence of formal communication, despite media speculation, emphasizing the need for clarity and coordinated announcements on sensitive financial arrangements.
He expressed gratitude to Saudi leadership, including Crown Prince Mohammed bin Salman, for what he described as continued and timely support for Pakistan’s economy. He also acknowledged the cooperation of Saudi financial authorities in finalizing the deposit arrangement.
Aurangzeb thanked Pakistan’s top leadership and economic team, including the prime minister, the State Bank governor, the finance secretary, and other officials, for their role in securing and implementing the financial support package.
He said Pakistan was currently receiving strong feedback from international financial institutions, including the International Monetary Fund and the World Bank, as well as global investors, noting improved sentiment toward the country’s reform trajectory.
The minister also pointed to Pakistan’s recent diplomatic engagements, saying the international community had acknowledged its role in facilitating dialogue in previously stalled diplomatic channels, which he said had contributed to improved external confidence.
Aurangzeb added that Pakistan is moving forward with its broader external financing strategy, including the planned Global Medium-Term Note (GMTN) programme and its first Panda Bond issuance, aimed at diversifying funding sources and expanding access to international capital markets.
He reaffirmed the government’s commitment to macroeconomic stability, continued reforms, and timely fulfillment of all external obligations, adding that a more detailed briefing would be provided at the end of his Washington visit.