Speaking in Washington on the sidelines of the World Bank-IMF Spring Meetings 2026, Aurangzeb said the support comes at a critical time and will help strengthen Pakistan’s foreign exchange reserves and external account.
The development follows ongoing efforts by Islamabad to secure financing as it prepares to repay a roughly $3 billion loan to the United Arab Emirates. For the first time in seven years, Pakistan was unable to secure a rollover from the UAE, increasing pressure on reserves currently estimated at around $16 billion—covering approximately three months of imports.
Aurangzeb said the government remains committed to meeting its targets under the International Monetary Fund (IMF) programme, aiming to raise reserves to about $18 billion by the end of the fiscal year.
He also revealed that the existing $5 billion Saudi deposit will no longer require annual rollovers and will instead be extended for a longer tenure, providing greater financial stability.
Highlighting recent developments, the finance minister noted that Pakistan successfully repaid its $1.4 billion Eurobond last week, reaffirming the country’s ability to meet external obligations under a disciplined financing strategy.
Aurangzeb said he held detailed discussions with Saudi Finance Minister Mohammed bin Abdullah Al-Jadaan in Washington, following earlier engagements in Islamabad. He expressed gratitude to Saudi leadership, particularly Crown Prince Mohammed bin Salman, for their continued support.
He also acknowledged the role of Pakistan’s leadership, including Prime Minister Shehbaz Sharif, Army Chief Asim Munir, and Deputy Prime Minister Ishaq Dar, in securing the financial package.
The minister noted growing confidence from international financial institutions, including the IMF and World Bank, as well as investors, citing Pakistan’s recent diplomatic engagement in regional conflicts as a contributing factor.
He added that Pakistan is advancing its external financing strategy through initiatives such as the Global Medium-Term Note (GMTN) programme and plans for its first Panda Bond issuance to diversify funding sources.
Aurangzeb reaffirmed the government’s commitment to maintaining macroeconomic stability, continuing reforms, meeting debt obligations on time, and strengthening engagement with international partners.
