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Pakistan Receives $3bn Support from Saudi Arabia
April 22, 2026
Pakistan received the final $1bn tranche of a $3bn support package from Saudi Arabia, completing a transfer that began last week with an initial $2bn payment. The funds come at a critical time as Pakistan’s foreign exchange reserves have fallen to just $15.1bn, partly due to energy shortages and inflation stemming from the war in Iran. The immediate trigger for the Saudi support was the UAE’s unexpected refusal to roll over ~$3bn in loans, the first such refusal in seven years. While Pakistan’s foreign ministry said that it was a routine transaction, local media reports point to a breakdown in rollover negotiations. Pakistan has already repaid $2bn to the UAE with another $1bn reportedly due shortly. Beyond the new $3bn package, Saudi Arabia also extended its existing $5bn deposit with Pakistan on more favourable terms, removing the requirement for annual rollovers. Meanwhile, Pakistan continues to operate under a $7bn IMF bailout programme, with a $1.2bn instalment pending following a staff-level agreement last month.
Pakistan’s dollar bonds traded stable, with its 7.375% 2031s at 99.1, yielding 7.6%
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