According to the central bank, the final $1 billion was returned to the Abu Dhabi Fund for Development (ADFD) on April 23, following last week’s repayment of $2.45 billion. “This completes the repayment of total deposits of $3.45 billion to UAE,” SBP said in a statement.

The repayments come at a sensitive time for Pakistan’s external sector, as the outflow—along with an estimated 6% interest—adds strain to foreign exchange reserves. Earlier this month, Pakistan also repaid $1.43 billion in external debt, including a $1.3 billion Eurobond.

To stabilise reserves, Islamabad has secured support from Saudi Arabia, which recently extended the maturity of a $3 billion deposit and provided an additional $2 billion inflow dated April 15, 2026.

Finance Minister Muhammad Aurangzeb said the government is exploring multiple financing avenues to plug the gap, including Eurobonds, Islamic sukuk, and commercial borrowing. “All options are on the table,” he noted, emphasising the need to maintain reserves at around 2.8 months of import cover for macroeconomic stability.

Aurangzeb added that Pakistan is also assessing long-term measures such as building a strategic petroleum reserve and accelerating the shift to renewable energy, particularly in light of economic shocks stemming from the Middle East conflict.

Meanwhile, Pakistan remains engaged with the International Monetary Fund (IMF), with its board expected to approve the next tranche—just under $1.3 billion—under the ongoing $7 billion programme next month.