Pakistan received $11 billion in external loans between July 2025 and April 2026, representing an 83 percent rise compared with the $6 billion secured during the same period last year.
The Ministry of Economic Affairs released official data confirming the sharp increase in foreign inflows, with both bilateral and multilateral lenders contributing significantly to the total figure.
Total external financial inflows for the period comprised $8.31 billion in non-project financing and $2.7566 billion in project financing, according to the published report by ministry.
Pakistan received approximately $4.5 billion in April 2026 alone, accounting for a substantial portion of the total external inflows recorded throughout the financial year to date.
Saudi Arabia provided a $1 billion oil financing facility through deferred payment arrangements, while the Islamic Development Bank extended $480 million in loans during this period.
The Asian Development Bank (ADB) contributed $1.924 billion to the external financing, while the World Bank Group provided $1.6639 billion during the same reporting period.
These multilateral lenders played a significant role in supporting the external financing requirements and contributed meaningfully to the overall year-on-year increase in inflows.
Pakistan has already rolled over $3 billion in Saudi Arabia deposits, with a further $9 billion in rollovers from Saudi Arabia and China expected before the end of the current fiscal year.
Deferred payment arrangements and the rollover of existing deposits formed a key component of the broader financing mix, supplementing direct loans and project-based funding received.
Pakistan received $120 million in grants between July and April, a significant drop compared with the $570 million in grants recorded during the corresponding period of the previous financial year.
Separately, Pakistan repaid $3 billion to the United Arab Emirates in April 2026, marking a notable outflow alongside the substantial inflows recorded during that same month.
The Ministry of Economic Affairs estimates that total external financial inflows for the current financial year will reach $19.39 billion, based on commitments and expected rollovers already confirmed.
The projected full-year figure reflects continued engagement with bilateral partners and multilateral institutions, supporting the external financing needs across the remainder of fiscal year 2026.
SBP Reserves Climb to $17.081 Billion
Foreign exchange reserves held by the State Bank (SBP) rose by $1.214 billion in a week, reaching $17.081 billion as of 15 May 2026 after funds received from the International Monetary Fund (IMF).
Additional inflows came from proceeds raised through the issuance of Panda Bonds, the central bank confirmed in its official weekly reserves statement on Thursday.
The State Bank noted that some external debt repayments were also made during the same week, partially offsetting the gains from the inflows received.
The total liquid foreign reserves of Pakistan, which include holdings by commercial banks, stood at $22.588 billion during the same review week.
Of that total, net foreign reserves held by commercial banks accounted for $5.507 billion, with the remainder held directly by the State Bank.
