Pakistan Finance Minister Muhammad Aurangzeb has asked US Treasury Secretary Scott Bessent to provide Islamabad with a USD 10 billion Exchange Stabilisation Support Facility to help strengthen the country’s economy, according to a media report. The request was reported by Dawn, which said Pakistan’s embassy in Washington confirmed the development but did not share further details.

An official readout issued by the embassy said Aurangzeb had sought US support for Pakistan’s road-to-market strategy, which is based on improved access to international capital markets, higher foreign exchange reserves and better sovereign credit ratings. The readout, however, did not mention the USD 10 billion amount.

The Exchange Stabilisation Support Facility, usually routed through the US Treasury’s Exchange Stabilisation Fund, is a financial backstop mechanism that can include currency swaps, financial guarantees and loans, among other measures. Dawn said it also sought a response from the US Treasury, but did not receive one.

Pakistan’s road-to-market strategy refers to its effort to regain full and independent access to international capital markets and raise foreign exchange reserves. This approach depends on maintaining strict International Monetary Fund discipline to keep fiscal deficits and inflation under control.

Diplomatic sources in Washington told Dawn there were “strong chances” that the USD 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’s economic recovery has remained fragile and the country is still heavily dependent on foreign assistance. It narrowly escaped default in 2023 after the IMF approved a USD 3 billion loan programme, and it is currently carrying out economic reforms under a USD 7 billion IMF programme approved in 2024. In sum, the report said Pakistan has sought fresh US support as it tries to steady its economy and return to international capital markets.

With PTI Inputs

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Published By:

India Today Web Desk

Published On:

Jul 22, 2026 14:18 IST