Saudi Arabia rolls over its $5 billion deposit with Pakistan until the end of 2028

State Bank of Pakistan Governor Jameel Ahmad said on Wednesday 29 July 2026 that pressure on Pakistan's external sector has subsided after Saudi Arabia rolled over a $5 billion debt for three years, together with $9 billion of foreign currency purchases from the local market in the last fiscal year. With the cash deposits rolled over until December 2028, Pakistan's gross external financing requirements for this fiscal year have come down to $21.5 billion.

Pakistan has taken a total of $8 billion in cash deposits from Saudi Arabia, including $3 billion obtained in April this year. The $5 billion portion had previously been rolled over annually. Of the $21.5 billion needed this year, the governor said cash deposits account for $7.3 billion and foreign commercial loans maturing this year for $3.5 billion, while net debt repayments are $7.5 billion, of which $2.2 billion was already repaid in July.

Pakistan repaid a $1.3 billion Chinese commercial loan in July, which pulled foreign exchange reserves down to $17.3 billion as of 17 July. The central bank is targeting reserves of $20.20 billion by the end of December 2026.