Saudi Arabia pledges fresh $3bn support for Pakistan

Saudi Arabia has committed an additional USD three billion in financial support to Pakistan, offering a significant boost as Islamabad navigates mounting external financing needs. Speaking in Washington, Finance Minister Muhammad Aurangzeb said Riyadh would also extend the tenure of a separate $5 billion deposit, providing further breathing space for Pakistan’s balance of payments. The fresh assistance comes as Pakistan faces a sizeable funding gap linked to upcoming debt repayments to the United Arab Emirates. Officials say the Saudi support will help stabilise foreign exchange reserves and ease short-term financial pressures. https://twitter.com/Financegovpk/status/2044247340308148616 A spokesperson for the Saudi Ministry of Finance confirmed the development, stating that the kingdom had agreed to place a $3 billion deposit with Pakistan to support its external account position. The move reflects strengthening economic and strategic ties between Islamabad and Riyadh. Relations between the two countries have deepened in recent years, including closer cooperation on economic and security fronts. Analysts say the latest support signals continued confidence from Saudi Arabia in Pakistan’s economic management, while also underscoring the kingdom’s role as a key financial partner during periods of fiscal strain. The post Saudi Arabia pledges fresh $3bn support for Pakistan appeared first on HUM News English.