Pakistan secured $27.2 billion in external financing during the fiscal year 2025-26, according to official data released by the Ministry of Economic Affairs.
The total includes $16 billion in fresh external inflows, along with $2.2 billion received from the International Monetary Fund (IMF), $5 billion in Saudi deposit rollovers, and $4 billion in Chinese deposit rollovers.
The data shows that nearly 88% of the total external financing around $24 billion was utilized for budgetary support, debt repayments, and strengthening the country’s foreign exchange reserves. Only $3.4 billion was allocated to development projects.
During FY26, Pakistan’s merchandise exports declined by 6% to $30 billion, while imports exceeded $69 billion, resulting in a trade deficit of nearly $40 billion. Foreign direct investment (FDI) also remained below $2 billion.
The State Bank of Pakistan’s foreign exchange reserves stood at $18.5 billion at the end of June, supported mainly by deposit rollovers, refinancing arrangements, and dollar purchases.
Saudi Arabia rolled over $5 billion in deposits during the fiscal year, while China maintained $4 billion in deposits and disbursed an additional $393 million in guaranteed loans.
The government also raised around $1 billion through Panda Bonds and private placements, alongside $1.9 billion in commercial loans, including $1.7 billion from the China Development Bank.
Meanwhile, the Asian Development Bank (ADB) disbursed $1.8 billion, the World Bank released nearly $2 billion, and the Islamic Development Bank (IsDB) provided $1 billion during the fiscal year.
In addition, Saudi Arabia extended $1 billion under its oil financing facility before the arrangement expired in April, while the government mobilized more than $3 billion through Naya Pakistan Certificates.
