Kingdom has also agreed to extend rollover arrangement for additional $5 billion deposit for longer period]\u2019\u2019
\n Islamabad
\nThe State Bank of Pakistan (SBP) said it has received $2 billion from Saudi Arabia, boosting foreign exchange reserves and providing support to the country\u2019s external position.
\n\u201cState Bank of Pakistan has received funds of $2 billion from Ministry of Finance, Kingdom of Saudi Arabia in the value date of 15 April 2026,\u201d the central bank said in a post on X on Thursday.
\nThe development comes as Prime Minister Shehbaz Sharif was in Saudi Arabia to push diplomatic efforts to promote peace in the Middle East.
\nThe premier also held a meeting with Crown Prince Mohammed bin Salman (MBS) in Jeddah, expressing his sincere appreciation for Saudi Arabia\u2019s consistent support for Pakistan\u2019s economic stability, according to the Prime Minister\u2019s Office.
\nDuring the meeting, PM Shehbaz expressed full solidarity and support for the Kingdom in the wake of recent regional escalation, saying that \u201cthe people of Pakistan stand shoulder to shoulder with our Saudi brethren.\u201d He also conveyed deep condolences over the loss of precious lives.
\nA day earlier, Finance Minister Muhammad Aurangzeb announced that Saudi Arabia has committed $3 billion in additional financial support for Pakistan, with disbursement expected next week.
\nThe extra funding for Pakistan comes on top of Riyadh extending the rollover arrangement for an additional $5 billion deposit for a longer period, Aurangzeb told reporters in Washington.
\nThe move underlines a deepening relationship between Riyadh and Islamabad, cemented last year by a mutual defense pact treating aggression against either as an attack on both.
\nPakistan faces a $3.5 billion repayment to the UAE this month that has put a strain on its foreign exchange reserves, which stood at about $16.4 billion as of March 27.
\nUnder Pakistan\u2019s $7 billion International Monetary Fund (IMF) programme, the country is targeting foreign exchange reserves of more than $18 billion by June.
\nSaudi Arabia has repeatedly stepped in to support Pakistan during periods of economic stress. In 2018, Riyadh unveiled a $6 billion package that included a $3 billion deposit at Pakistan\u2019s central bank and $3 billion in oil supplies on deferred payment.
\nIn a meeting with Aurangzeb on Wednesday, IMF chief Kristalina Georgieva credited Pakistan\u2019s strong implementation of its IMF programme for maintaining macroeconomic stability.
\n\u201cStrong program[me] implementation has helped Pakistan maintain macroeconomic stability and build confidence,\u201d she said.<\/p>\n","protected":false},"excerpt":{"rendered":"
Kingdom has also agreed to extend rollover arrangement for additional $5 billion deposit for longer period]\u2019\u2019 Islamabad The State Bank of Pakistan (SBP) said it has received $2 billion from Saudi Arabia, boosting foreign exchange reserves and providing support to the country\u2019s external position. \u201cState Bank of Pakistan has received funds of $2 billion from […]<\/p>\n","protected":false},"author":2,"featured_media":501587,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[5],"tags":[],"class_list":{"0":"post-542192","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n