Saudi Arabia commits $3 billion support to Pakistan, says minister

Federal Minister for Finance and Revenue Muhammad Aurangzeb says Saudi Arabia has committed an additional $3 billion in deposits, with disbursement expected within a week, while its existing $5 billion deposit will be extended beyond the previous annual rollover arrangement.

Speaking to reporters in Washington, D.C. on the sidelines of the World Bank–IMF Spring Meetings 2026, Aurangzeb outlines key elements of Saudi financial support and Pakistan’s external financing strategy.

He says the inflows come at a critical juncture, helping bolster foreign exchange reserves and support the external account, while reaffirming the government’s target of building reserves to around $18 billion — roughly 3.3 months of import cover — under the International Monetary Fund program.

Aurangzeb notes Pakistan has repaid its $1.4 billion Eurobond, describing it as a “non-event,” and reiterates the government’s commitment to meeting all external obligations in a timely and disciplined manner.

Detailing his engagements, he says he met Saudi Finance Minister Mohammed bin Abdullah Al-Jadaan in Washington, alongside the State Bank governor and Pakistan’s ambassador to the United States, following an earlier meeting in Islamabad. He adds the government withheld public comment until formal confirmation, despite media speculation.

The minister expresses gratitude to Saudi leadership, particularly Crown Prince Mohammed bin Salman, Al-Jadaan and the Saudi vice finance minister, for their continued support and cooperation in finalizing the package.

He also acknowledges Pakistan’s leadership, including Prime Minister Shehbaz Sharif and economic team, for their role in securing and operationalizing the support.

Aurangzeb says improving sentiment and confidence remain crucial, noting strong appreciation from the IMF, World Bank, investors and global counterparts, including recognition of Pakistan’s recent diplomatic role in facilitating dialogue.

He adds that Saudi support, combined with growing international confidence, provides momentum for the economy and external account.

Pakistan is also advancing broader financing initiatives, including a Global Medium-Term Note program and a planned inaugural Panda bond, aimed at diversifying funding sources and enhancing market access.

The minister reaffirms the government’s commitment to macroeconomic stability, timely debt servicing, and continued engagement with bilateral and multilateral partners, adding that a more detailed media briefing will follow at the end of the visit.