Pakistan’s foreign exchange reserves increased after the State Bank of Pakistan (SBP) confirmed the receipt of $2 billion from Saudi Arabia.
“State Bank of Pakistan has received funds of US$2 billion from Ministry of Finance, Kingdom of Saudi Arabia in the value date of 15 April 2026,” the central bank said in a post on X on Thursday.
The development came as Prime Minister (PM) Shehbaz Sharif visited Saudi Arabia, where he held a meeting with Crown Prince Mohammed bin Salman in Jeddah.
According to the Prime Minister’s Office (PMO), the premier expressed appreciation for Saudi Arabia’s support for Pakistan’s economic position.
During the meeting, PM Shehbaz expressed solidarity with the Kingdom following recent regional developments.
“The people of Pakistan stand shoulder to shoulder with our Saudi brethren,” he said, while also conveying condolences over the loss of lives.
A day earlier, Finance Minister (FM) Muhammad Aurangzeb said that Saudi Arabia had committed $3 billion in additional financial support, with disbursement expected next week.
He further stated that the support comes alongside the extension of a $5 billion deposit rollover for a longer period.
Pakistan is facing a $3.5 billion repayment to the United Arab Emirates (UAE) this month, which has put pressure on its foreign exchange reserves. The reserves stood at around $16.4 billion as of March 27.
Under the $7 billion International Monetary Fund (IMF) programme, Pakistan is targeting reserves of over $18 billion by June.
Saudi Arabia has previously provided financial assistance to Pakistan during periods of economic pressure. In 2018, it announced a $6 billion package that included a $3 billion deposit and $3 billion in deferred oil payments.
In a meeting with Aurangzeb, IMF Managing Director Kristalina Georgieva acknowledged Pakistan’s implementation of the programme.
“Strong program[me] implementation has helped Pakistan maintain macroeconomic stability and build confidence,” she said.
