Pakistan’s Finance Minister Muhammad Aurangzeb asks the United States for a $10 billion Exchange Stabilisation Support Facility to help strengthen Pakistan’s economy, according to multiple reports. The request is made to U.S. Treasury Secretary Scott Bessent, and is confirmed by officials at Pakistan’s embassy in Washington, though details are limited. The U.S. Treasury does not comment. A readout issued by the embassy says Aurangzeb seeks U.S. support linked to a “road-to-market” approach, alongside higher foreign exchange reserves and improved sovereign credit ratings. The road-to-market strategy is presented as aimed at restoring independent access to international capital markets, and it is described as relying on adherence to International Monetary Fund conditions to control fiscal deficits and inflation.
One account, citing diplomatic sources, says there are “strong chances” the $10 billion stabilisation request could be approved. The facility described is typically channelled through the U.S. Treasury’s Exchange Stabilisation Fund and is intended to act as a backstop for currency stability, including through mechanisms such as loans and other forms of support. Reported terms include a maturity of up to five years, but specific conditions and whether the $10 billion figure is formally included are not detailed.
