WASHINGTON: Pakistan’s Finance Minister, Muhammad Aurangzeb, requested US Treasury Secretary Scott Bessent to provide Pakistan with a $10 billion Exchange Stabilisation Support Facility aimed at strengthening the country’s economy.
The request, first reported by Reuters, was confirmed by officials at Pakistan’s embassy in Washington, although they declined to provide further details. The US Treasury also declined to comment on the matter.
According to an official statement issued by the Pakistani embassy, Aurangzeb sought US support to improve Pakistan’s access to international capital markets, increase foreign exchange reserves, and enhance the country’s sovereign credit ratings. However, the statement did not specifically mention the reported $10 billion request.
Reuters reported that Islamabad is seeking a bilateral stabilisation facility with a maturity period of up to five years. Under the proposed arrangement, the US government, through its Exchange Stabilisation Fund, could provide loans or other financial backstop mechanisms to help Pakistan strengthen its foreign exchange reserves, reduce debt-related pressures, and stabilize the national economy.
Such facilities are generally designed to prevent currency instability and, when necessary, support a partner country’s currency through intervention in foreign exchange markets.
Diplomatic sources in Washington indicated that there is a strong possibility the request could receive approval.
One source said the Trump administration remains interested in maintaining close engagement with Pakistan and has repeatedly expressed its commitment to supporting the country’s economic stability.