Pakistan completes $3.45bn UAE repayment: SBP

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.