ISLAMABAD: A Saudi deposit rollover extended the maturity of US$5 billion held by Pakistan for three years, Finance Minister Muhammad Aurangzeb and SBP Governor Jameel Ahmad confirmed Wednesday.
Ahmad said the arrangement would ease pressure on Pakistan’s external account during the 2026–27 fiscal year. The deposits will now mature in December 2028.
Aurangzeb disclosed in April that Saudi Arabia had granted a longer extension but did not reveal its duration or revised maturity date.
Pakistan holds US$8 billion in cash deposits in Saudi Arabia. The total includes another US$3 billion received in April. Officials did not disclose whether the remaining amount received a similar three-year extension.
Ahmad placed Pakistan’s gross external financing requirement at US$21.5 billion for fiscal 2026–27. The figure represents a US$5 billion decline from the US$26.5 billion recorded in 2025–26.
Read: KSE-100 Sell-Off Erases Nearly 2,000 Points Intraday
The requirement comprises about US$18 billion in principal and US$3.5 billion in interest. Pakistan expects to roll over or refinance between US$10 billion and US$11 billion, leaving net repayments of around US$7.5 billion.
Ahmad said Pakistan had already made US$2.2 billion in net repayments during July.
State Bank of Pakistan data showed total liquid foreign exchange reserves of US$22.67 billion on July 17. The SBP held US$17.26 billion, while commercial banks held US$5.41 billion.
The central bank bought about US$9 billion from the interbank market during the previous fiscal year. Its purchases totalled US$28 billion over the past three years, Ahmad said.
