The State Bank of Pakistan confirmed that Pakistan has paid $2 billion to the United Arab Emirates as part of a $3.5 billion repayment requested by Abu Dhabi. An earlier $500 million had already been cleared, with the remaining amount due on April 23, raising concerns over pressure on foreign reserves.
To offset the outflow, Saudi Arabia pledged $3 billion in fresh deposits and extended its $5 billion facility for three years, with $2 billion already received.
As of April 10, reserves stood at $20.52 billion. Finance Minister Muhammad Aurangzeb said Pakistan is exploring Eurobonds, sukuk, and commercial borrowing to manage reserves, maintaining import cover at around 2.8 months.
He made the remarks during the IMF/World Bank Spring Meetings, adding that IMF programme adjustments remain an option if needed. Adviser Khurram Schehzad noted Pakistan also repaid $1.43 billion recently, including a $1.3 billion Eurobond.
