Finance Minister Muhammad Aurangzeb on Tuesday confirmed Saudi Arabia has committed $3 billion in additional deposits, with disbursement expected in the coming week, to Pakistan, adding an existing $5 billion despite will no longer be subject to an earlier annual rollover arrangement and would instead be extended for a lengthier tenure.
Speaking with media in Washington, D.C. on the sidelines of the World Bank-IMF Spring Meetings 2026, he noted the Saudi support comes at a critical time for Pakistan’s external financing needs. It would, he emphasized, help reinforce foreign exchange reserves and strengthen the country’s external account.
He reiterated the government’s commitment to maintaining reserves in line with its obligations to markets and under the IMF-supported program, including achieving the objective of around $18 billion in reserves, equivalent to approximately 3.3 months of import cover, by the end of the fiscal year.
The finance minister said Pakistan had successfully repaid a $1.4 billion Eurobond last week, describing it as a “non-event.” He reaffirmed the government remained fully committed to meeting all upcoming external obligations and maturities on time, adding the country’s external financing plan was clearly defined and being implemented in a responsible and disciplined manner.
Referring to his engagements in Washington, Aurangzeb said he, along with the State Bank of Pakistan governor and Pakistan’s ambassador to the United States, had held a detailed meeting with Saudi Finance Minister Mohammed bin Abdullah Al-Jadaan. He recalled he had previously met the Saudi finance minister in Islamabad last week, adding the government had deliberately refrained from commenting publicly in the absence of formal communication, despite media reports and speculation, as such matters required clarity and joint understanding before being shared.
Expressing profound gratitude to the leadership of the Kingdom of Saudi Arabia, particularly His Royal Highness Crown Prince Mohammed bin Salman, the finance minister, and the vice finance minister, he emphasized their continued support and close cooperation. He particularly appreciated the efforts made to bring the support package to fruition.
The minister also acknowledged the role of Pakistan’s political and economic leadership in securing and operationalizing the support, thanking Prime Minister Shehbaz Sharif, Army chief Field Marshal Asim Munir, and Deputy Prime Minister Ishaq Dar, as well as Finance Secretary Imdadullah Bosal, and their respective teams for their contributions and coordination.
At this juncture, said Aurangzeb, sentiment and confidence were critically important. He said Pakistan was receiving unprecedented appreciation from international financial institutions, the IMF, the World Bank, institutional investors, and counterparts he was meeting in Washington. He noted the international community was particularly recognizing Pakistan’s recent diplomatic and facilitative role in helping enable dialogue between parties that had not held face-to-face discussions for decades.
He said this international appreciation, coupled with Saudi Arabia’s timely financial support, provided Pakistan with important momentum and confidence going forward, both for the economy and for the external account, including its commercial dimensions.
The finance minister further noted Pakistan was advancing its broader external financing agenda, including the recently announced Global Medium-Term Note program and the planned inaugural Panda Bond issuance, as part of efforts to diversify funding sources and strengthen market access.
He concluded his press conference by reaffirming the government’s commitment to macroeconomic stability, fulfillment of external obligations, reform continuity, and sustained engagement with bilateral and multilateral partners. He said a more detailed interaction with the media would take place at the conclusion of the visit