The Kingdom of Saudi Arabia on Wednesday pledged $3 billion in deposits, with disbursement expected in the coming week, and the existing $5 billion Saudi deposit will no longer be subject to the previous annual rollover arrangement but will instead be extended for a longer period, the Ministry of Finance said. According to a press release, Finance Minister Aurangzeb made the announcement while speaking to the media in Washington, DC, on the sidelines of the World Bank–IMF Spring Meetings 2026. Read: IMF cuts growth forecast to 3.5% Aurangzeb said this would 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 programme, including the objective of achieving $18 billion in reserves, equivalent to approximately 3.3 months of import cover, by the end of the fiscal year. Saudi Arabia Announces USD 3 Billion Additional Support, Extends USD 5 Billion Deposit: Finance Minister Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, has informed that the Kingdom of Saudi Arabia has committed USD 3 billion in additional deposits, with… pic.twitter.com/E8dXPg6g9Y — Ministry of Finance, Government of Pakistan (@Financegovpk) April 15, 2026 Ministry in a statement said that the finance minister noted that Pakistan had successfully repaid its $1.4 billion Eurobond last week, describing it as a “non-event,” and reaffirmed that the government remained fully committed to meeting all upcoming external obligations and maturities on time. Aurangzeb said that he, along with the Governor, State Bank of Pakistan Jameel Ahmad and Pakistan’s Ambassador to the United States Rizwan Saeed Sheikh, held a detailed meeting with Saudi Finance Minister Mohammed bin Abdullah Al-Jadaan. "He had also met the Saudi finance minister in Islamabad the previous Friday, but said 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," said the statement. Aurangzeb said Pakistan was receiving appreciation from international financial institutions, the IMF, the World Bank, institutional investors, and counterparts he was meeting in Washington. He said the international community was particularly recognising Pakistan’s recent diplomatic and facilitative role in helping enable dialogue between parties that had not held face-to-face discussions for decades. Read more: Pakistan moves toward quad framework 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. According to the ministry, Aurangzeb further noted that Pakistan was advancing its broader external financing agenda, including the recently announced Global Medium-Term Note programme and the planned inaugural Panda Bond issuance, as part of efforts to diversify funding sources and strengthen market access. Aurangzeb expressed gratitude to the leadership of Saudi Arabia, especially Crown Prince Mohammed bin Salman, the Saudi finance minister, and the Saudi vice finance minister, for their unwavering support and close cooperation. He also thanked Prime Minister Shehbaz Sharif, Chief of Defence Forces and Chief of Army Staff, Field Marshal Asim Munir, Deputy Prime Minister Ishaq Dar, and Finance Secretary Imdad Ullah Bosal, among others.
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