Saudi Arabia Deposits $2B to Boost Pakistan Reserves

Pakistan’s central bank announced on Thursday that it has received $2 billion from Saudi Arabia, providing immediate support to the country’s foreign exchange reserves as it works to stabilize its external position.

The funds are part of a broader $3 billion financial assistance package pledged by Saudi Arabia to help Pakistan manage ongoing external financing pressures.

In a statement, the State Bank of Pakistan (SBP) said the amount was received from Saudi Arabia’s Ministry of Finance on April 15, 2026.

Pakistan continues to depend on external financing to meet import requirements and debt repayments. Support from allies like Saudi Arabia remains crucial, alongside the country’s ongoing program with the International Monetary Fund (IMF), which aims to restore macroeconomic stability.

The latest inflow comes shortly after Finance Minister Muhammad Aurangzeb confirmed that Saudi Arabia had committed an additional $3 billion in support and agreed to extend an existing $5 billion deposit to strengthen Pakistan’s reserves.

The country is working to rebuild its foreign exchange reserves following a prolonged balance-of-payments crisis. Under its $7 billion IMF program, Pakistan aims to increase reserves to approximately $18 billion by the end of the current fiscal year in June.

Saudi Arabia has long been a key financial partner for Pakistan, providing deposits, oil financing, and budgetary support during periods of economic stress.

The recent inflow follows Pakistan’s repayment of about $1.4 billion in Eurobonds and comes at a time when the country faces outflows of around $3.5 billion to the United Arab Emirates due to maturing deposits, highlighting continued pressure on its external account.