KARACHI: Pakistan’s central bank said on Thursday it had received $2 billion from Saudi Arabia, providing immediate support to the country’s foreign exchange reserves amid ongoing efforts to stabilize its external position.
Pakistan relies heavily on external financing to meet its import needs and debt obligations, with support from allies such as Saudi Arabia playing a critical role alongside an International Monetary Fund (IMF) program aimed at restoring macroeconomic stability.
“The State Bank of Pakistan has received funds of $2 billion from the Ministry of Finance, Kingdom of Saudi Arabia in the value date of April 15, 2026,” the State Bank of Pakistan (SBP) said in a social media post.
The inflow comes days after Finance Minister Muhammad Aurangzeb said Saudi Arabia had committed $3 billion in additional financial support and agreed to extend an existing $5 billion deposit to help shore up Pakistan’s reserves.
Pakistan is working to rebuild its reserves and meet targets under a $7 billion IMF program after a prolonged balance-of-payments crisis, with authorities aiming to lift reserves to around $18 billion by the end of the current fiscal year in June.
Saudi Arabia has been a key financial backer of Pakistan, providing deposits, oil financing facilities and budgetary support to help the country navigate external financing pressures.
The inflow follows Pakistan’s recent repayment of about $1.4 billion in Eurobonds and coincides with repayments of around $3.5 billion to the United Arab Emirates under maturing deposits, underscoring pressure on its external account.
