Pakistan completes $3.45bn UAE repayment: SBP
- Deposits of $2.45 billion were repaid last week
Pakistan has cleared all outstanding deposits owed to the United Arab Emirates (UAE), the State Bank of Pakistan (SBP) announced on Friday, as it repaid $1 billion to the Abu Dhabi Fund for Development.
“SBP repaid deposit of $1 billion to Abu Dhabi Fund for Development (ADFD), UAE, on 23 April 2026,” said the central bank.
“Deposits of $2.45 billion were repaid last week. This completes the repayment of total deposits of $3.45 billion to the UAE.”
The UAE had previously been rolling over deposits annually.
Last week, Pakistan repaid $2 billion to the UAE, a central bank official confirmed to Business Recorder.
“Pakistan has repaid $2 billion to the UAE,” said Noor Ahmed, spokesperson at the SBP.
The repayment comes as Pakistan targets foreign exchange reserves above $18 billion by June under a $7 billion International Monetary Fund (IMF) programme, which requires bilateral deposits to be rolled over.
Earlier this month, Pakistan also repaid $1.43 billion Eurobond maturing on April 8, 2026.
The SBP held forex reserves increased by $18 million to $15.10 billion during the week ended on April 17, 2026.
Earlier, Finance Minister Muhammad Aurangzeb informed that Saudi Arabia had committed $3 billion in additional deposits, bringing the total Saudi deposits to $8 billion.
He further stated that the existing $5 billion Saudi deposit would no longer remain subject to the earlier annual rollover arrangement and would instead be extended for three years.
The minister also reiterated the government’s commitment to maintaining reserves in line with its obligations to markets and under the IMF-supported programme, including the objective of achieving around $18 billion in reserves, equivalent to approximately 3.3 months of import cover, by the end of the fiscal year.
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