Pakistan got a much-needed financial boost this week after receiving $2 billion from Saudi Arabia. The country’s central bank confirmed the money came in on April 15, giving some relief at a time when pressure on foreign exchange reserves has been building.
In a post on X, the country’s State Bank said, “State Bank of Pakistan has received funds of US$2 billion from Ministry of Finance, Kingdom of Saudi Arabia in the value date of 15 April 2026.”
The development comes while Prime Minister Shehbaz Sharif was in Saudi Arabia, where he has been holding key meetings and pushing diplomatic efforts linked to rising tensions in the Middle East. For months, Pakistan has been struggling to keep its reserves stable while managing large repayments and economic uncertainty.
Shehbaz Sharif meets MBS in Jeddah
During his visit, Sharif met Crown Prince Mohammed bin Salman in Jeddah and thanked Saudi Arabia for standing by Pakistan during tough economic times. According to the Prime Minister’s Office, Shehbaz made Pakistan’s position clear during the meeting. As reported by The News Pakistan, he said, “The people of Pakistan stand shoulder to shoulder with our Saudi brethren.” He also expressed condolences over the loss of lives in the recent regional escalation.
This is not the first time Saudi Arabia has stepped in for Pakistan. Back in 2018, it announced a $6 billion package that included $3 billion in cash deposits and another $3 billion worth of oil on deferred payments.
State Bank of Pakistan has received funds of US$2 billion from Ministry of Finance, Kingdom of Saudi Arabia in the value date of 15April2026.
— SBP (@StateBank_Pak) April 16, 2026
More money on the way
According to The News Pakistan, the $2 billion is not the only support coming in. Just a day earlier, Finance Minister Muhammad Aurangzeb said Saudi Arabia has promised another $3 billion, which is expected to reach Pakistan next week.
On top of that, the report also mentions that Saudi Arabia has agreed to extend a $5 billion deposit that was already with Pakistan, giving the country more time before it has to return the money. Aurangzeb shared this update while speaking to reporters in Washington.
The financial help shows the growing close ties between Pakistan and Saudi Arabia. Last year, both countries even signed a mutual defence pact, under which an attack on one would be treated as an attack on the other.
However, even with this support, Pakistan is still under pressure. The country has to repay $3.5 billion to the UAE this month, which has added stress on its reserves.
As of March 27, Pakistan’s foreign exchange reserves were around $16.4 billion. Under its $7 billion programme with the International Monetary Fund (IMF), the country is aiming to push reserves above $18 billion by June.
Walking a tightrope in a tense region
Meanwhile, Pakistan helped broker a two-week ceasefire and also hosted the Islamabad Talks. These talks brought US and Iranian officials face-to-face for high-level discussions for the first time since 1979.
Pakistan depends heavily on the Gulf for energy, with around 90% of its oil coming from the region. Any disruption there can quickly turn into a crisis back home. With tensions rising and the Strait of Hormuz facing blockades, Pakistan launched Operation Muhafiz-ul-Bahr. Under this mission, the Navy is escorting oil tankers to make sure supplies continue despite the risks.
At the same time, the country is already dealing with a serious energy crunch at home, which makes the situation even more urgent.
On one hand, it is pushing for talks and even helping secure a temporary peace. On the other hand, it is making sure its alliances and energy needs are protected.