Pakistan seeks $10 billion U.S. economic support facility
Pakistan's Finance Minister Muhammad Aurangzeb has formally requested a $10 billion Exchange Stabilisation Support Facility from U.S. Treasury Secretary Scott Bessent to bolster Pakistan's fragile economy. The facility, routed through the U.S. Treasury's Exchange Stabilisation Fund, would provide currency swaps, financial guarantees, and loans. The request was confirmed by Pakistan's embassy in Washington, though the U.S. Treasury has not commented. Diplomatic sources indicate strong chances of approval, citing the Trump administration's interest in engaging with Pakistan. The request supports Pakistan's 'road-to-market' strategy to regain access to international capital markets, boost foreign exchange reserves, and improve sovereign credit ratings. Pakistan's economy remains heavily dependent on foreign assistance after narrowly avoiding default in 2023, and it is currently implementing reforms under a $7 billion IMF program approved in 2024.
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