Pakistan dependent on foreign loans

China, Saudi Arabia and the United Arab Emirates are providing billions of dollars in financial support to Pakistan as the country burns through its foreign currency reserves at the fastest pace in Asia

Foreign exchange reserves held by State Bank of Pakistan* ($ billions)

14 $14.11bn
12 
10      
8       
6 
4 
2 
0
  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb
                       2018                         2019

Jul 28: China loans $2bn to SBP, boosting reserves to $11.20bn

Jul 20: $9.01bn  Jul 25: Cricket legend Imran Khan wins election

Oct: Saudi Arabia agrees financial support of $6bn for SBP

Jan 25, 2019:$2bn loans from Saudi Arabia and UAE boost reserves to $8.15bn
            
Aug 18: Khan takes office as Prime Minister

Dec 21: Pakistan gets $3bn loan from UAE

Feb 2: China agrees to provide $2.5bn in loans
                                 
 
*Excludes $6.65bn foreign exchange reserves held by commercial banks (Jan 25)


 Source: State Bank of Pakistan Picture: Associated Press © GRAPHIC NEWS