Saudi Arabia has announced an $8 billion financial support package for Pakistan, including an additional $3 billion deposit and an extension of an existing $5 billion deposit. According to the Saudi Press Agency, the initiative aims to reinforce Pakistan’s economic stability and enhance its resilience amid global economic changes. The State Bank of Pakistan confirmed via social media that it has already received $2 billion from Saudi Arabia’s Ministry of Finance, effective until April 15, 2026, to bolster the country’s foreign exchange reserves.

The announcement followed a meeting in Jeddah between Pakistan’s Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammed bin Salman. Pakistan is currently preparing to repay $3.5 billion in loans to the United Arab Emirates by the end of this month and expects an additional $5 billion in support from Saudi Arabia and Qatar. Finance Minister Muhammad Aurangzeb stated that Pakistan repaid $1.4 billion in foreign debt last week.

Pakistan’s foreign reserves stand at about $21.89 billion, with $16.4 billion held by the central bank and $5.49 billion by commercial banks, reflecting ongoing pressure from high import costs and external debt obligations.