$2bn UAE Deposit Rolled Over as IMF Review Talks Near
Islamabad: The United Arab Emirates has, in principle, agreed to a short-term rollover of Pakistan’s $2 billion deposit for a period of two months.
A senior official confirmed that the United Arab Emirates has agreed to extend the deposit until April 17, 2026. According to sources, the assurance was given after Deputy Prime Minister and Foreign Minister Ishaq Dar contacted senior Emirati authorities earlier this week.
Senior government sources said the short-term rollover has been agreed at an interest rate of 6.5 percent, with formal approval from the relevant authorities expected at any time.
The development is being seen as significant ahead of the third review talks between Pakistan and the International Monetary Fund. The decision comes at a critical time, with only four days remaining before the expiry of a previous one-month extension.
Sources said the UAE has been informed that Islamabad will approach it again for a longer-term rollover after the conclusion of IMF negotiations.
It may be recalled that in January, the UAE had granted a one-month extension after the deposit matured, while a third tranche of $1 billion is due in July 2026.
Foreign Office Spokesperson Tahir Hussain Andrabi said Ishaq Dar is personally overseeing the matter and is playing a positive role through consultation and coordination with Emirati authorities.
The spokesperson added that determining the duration of a rollover is the lender’s prerogative, and that the rollover has been secured due to the deputy prime minister’s efforts.
Responding to a question, the Foreign Office spokesperson said he was not aware of the context of statements made by finance ministry officials before the Standing Committee on Finance. He also referred to the finance minister’s remarks that there is no gap in Pakistan’s external financing profile and that engagements with the IMF are moving in the right direction.
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