Pakistan gets $7bn debt rollover support from 3 countries

Pakistan has received assurances that Saudi Arabia, China and Kuwait will extend $7.3bn in loan rollovers, Mettis Global reported on November 5. Finance Minister Muhammad Aurangzeb confirmed Saudi Arabia’s $3bn rollover, saying the arrangement had been deferred for an appropriate period after discussions between the two countries. He also said Pakistan did not need extra financial assistance from Saudi Arabia at present.

China has committed to rolling over $4bn, due in March 2027, while Kuwait’s rollover is $300m; the loans are expected to be extended for about a year. Pakistan expects the arrangements to help cover its financing needs, with roughly $21bn in external payments due during the current fiscal year and $7.3bn of that amount expected to be met through rollovers. Aurangzeb also expects a $1.21bn IMF disbursement in December.