Pakistan’s Financial Crisis Deepens: Saudi Adds $3 Billion As Islamabad Seeks $10 Billion From US
Pakistan’s dependence on external financial support is deepening, with Saudi Arabia adding another $3 billion to Pakistan’s foreign exchange reserves. The latest support takes Saudi cash deposits with Pakistan’s central bank to $8 billion, providing Islamabad with additional foreign-exchange liquidity and helping meet external financing pressures. But the fresh Saudi support does not resolve Pakistan’s underlying financing challenges. Islamabad is also looking toward Washington, with Finance Minister Muhammad Aurangzeb confirming that Pakistan has formally requested a $10 billion exchange stabilization support facility from the United States. Pakistan says the proposed US facility would not be a conventional loan or credit line, but rather a confidence signal for its currency and foreign-exchange stability. Islamabad hopes stronger external backing could improve investor confidence and eventually help the country return to international capital markets for longer-term borrowing.
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