Finance Minister (FinMin) Muhammad Aurangzeb has asked the United States (US) Treasury Secretary Scott Bessent to extend a $10 billion Exchange Stabilisation Support Facility (ESF) to Pakistan, aimed at strengthening the country’s economy, media reports have stated.
Officials at Pakistan’s embassy in Washington DC confirmed that the request had been put in but provided no further details. The US Treasury declined to comment on the matter.
A readout released by the embassy stated that Aurangzeb had sought US backing for Pakistan’s path toward improved access to international capital markets, stronger foreign exchange reserves and better sovereign credit ratings.
The statement, however, made no reference to the $10 billion request itself.
An Internet news service reported that Islamabad is pursuing a bilateral stabilisation facility with a maturity period of up to five years. Under the proposed mechanism, the US government would extend loans or backstop support to Pakistan through the Treasury’s Exchange Stabilisation Fund, with the goal of shoring up foreign exchange reserves, easing debt pressure and helping stabilise the economy.
Facilities of this kind are typically used to guard against currency instability and when needed, to support a partner country’s currency through market intervention.
Diplomatic sources in Washington DC told a private media outlet that the request stood a strong chance of approval. One source said that the Trump administration remains keen on staying engaged with Pakistan and has repeatedly signaled its willingness to help strengthen the country’s economy.
