Pakistan Seeks $10 Billion US Economic Support Facility To Strengthen Economy: Report

Pakistan has requested a $10 billion Exchange Stabilisation Support Facility from the United States to strengthen its economy, according to a media report. The request was made by Finance Minister Muhammad Aurangzeb during a meeting with US Treasury Secretary Scott Bessent.

The Exchange Stabilisation Support Facility, typically channelled through the US Treasury's Exchange Stabilisation Fund, serves as a financial backstop and can include currency swaps, financial guarantees and loans.

The Dawn newspaper reported on Wednesday that Pakistan's embassy in Washington confirmed the request but did not provide additional details. The newspaper also sought a response from the US Treasury, but received none.

Embassy readout outlines economic strategy

According to an official readout issued by the Pakistani embassy, Aurangzeb sought US backing for Pakistan's road-to-market strategy, which focuses on improving access to international capital markets, increasing foreign exchange reserves and enhancing the country's sovereign credit ratings.

Pakistan's road-to-market strategy aims to restore independent access to global capital markets while boosting foreign exchange reserves. The approach depends on adhering to International Monetary Fund (IMF) conditions to keep fiscal deficits and inflation under control.

However, the embassy's official readout did not mention the reported $10 billion request.

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Sources optimistic about US response

Diplomatic sources in Washington told Dawn there were "strong chances" that the $10 billion stabilisation request would be approved.

One source told the newspaper that the Trump administration "has a keen interest in remaining engaged" with Pakistan and has "more than once pledged" to help strengthen the country's economy.

Pakistan continues to face a fragile economic recovery and remains heavily reliant on external financial assistance. The country narrowly avoided default in 2023 after securing a $3 billion IMF loan programme. It is currently implementing economic reforms under a $7 billion IMF programme approved in 2024, which is linked to a series of policy conditions.