Pakistan Requests $10 Billion U.S. Exchange‑Stabilisation Facility

Pakistan’s finance minister, Senator Muhammad Aurangzeb, met U.S. Treasury Secretary Scott Bessent in Washington and submitted a written request for a bilateral exchange‑stabilisation support facility worth $10 billion, with a maturity of up to five years. The proposed facility would bolster Pakistan’s foreign‑exchange reserves, ease pressure on the rupee and reduce reliance on multilateral financing while the country continues fiscal and monetary reforms under its $7 billion IMF programme.

Pakistan’s request follows its diplomatic role in mediating recent Iran‑U.S. talks, which officials say raised Islamabad’s profile in Washington. If approved, the arrangement—similar to a currency swap line—would provide dollar liquidity or guarantees to support the Pakistani currency and improve sovereign‑credit ratings. Pakistan narrowly avoided a sovereign default in 2023 after a $3 billion IMF standby; a $7 billion extended fund and a $1.3 billion climate‑resilience loan followed. Despite these programmes, Pakistan’s reserves remain dependent on official financing and deposits from China and Saudi Arabia. The U.S. Treasury has not commented on the request, and the Pakistani finance ministry has not issued an official confirmation.