Pakistan has reached out to the Kingdom of Saudi Arabia (KSA) for incremental deposits and is in talks with UAE-based commercial banks to secure assurances for meeting the International Monetary Fund (IMF) requirements.
In addition to this, Pakistan is working with KSA, China, and UAE to secure a rollover of $12 billion in deposits currently held by the State Bank of Pakistan for the ongoing fiscal year. The country also needs incremental funding of $2-3 billion to meet IMF demands. A combination of funding from KSA and the resumption of loans from Middle Eastern banks could help Islamabad bridge the $2-3 billion financing gap for the current fiscal year.
