Pakistan has requested a $10 billion Exchange Stabilization Support Facility from the United States, according to a Reuters report. The proposed facility aims to strengthen foreign exchange reserves and support economic stability. The request comes amid regional uncertainties affecting Pakistan’s economy.
Finance Minister Muhammad Aurangzeb discussed economic cooperation with US Treasury Secretary Scott Bessent during a meeting in Washington. The talks focused on improving Pakistan’s reserves, increasing US investment, and advancing strategic projects. Regional developments and their economic impact were also discussed.
Read more: Pakistan seeks $10bn US currency support facility
According to Reuters, Pakistan submitted a request for a five-year bilateral financial facility. If approved, the support could help reduce pressure on the Pakistani rupee and improve foreign exchange reserves. It could also reduce dependence on multilateral financial sources.
The request marks the first time Pakistan has sought such an exchange support facility from the United States. Moreover, officials believe the arrangement could provide additional financial stability. The proposed support would require approval from relevant US authorities.
Additionally, the discussions covered Pakistan’s efforts to improve economic conditions and attract foreign investment. The government highlighted the need for stronger financial cooperation with international partners. Officials also discussed progress on strategic economic initiatives.
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Meanwhile, the request follows Pakistan’s diplomatic role in facilitating discussions between Iran and the United States during regional tensions. Reuters reported that Islamabad hopes its diplomatic engagement could support stronger economic ties with Washington and other partners.
However, Pakistan’s Finance Ministry has not officially confirmed the request. The US Treasury Department also declined to comment on the matter. Further developments will depend on discussions between both governments and approval processes.