Pakistan Requests $10 Billion Stabilization Facility from United States

The Government of Pakistan has requested a $10 billion Bilateral Exchange Stabilization Support Facility from the United States to stabilize the rupee and bolster its foreign exchange reserves. Finance Minister Muhammad Aurangzeb submitted the proposal during a meeting in Washington on July 21, 2026, with U.S. Treasury Secretary Scott Bessent.

The proposed facility would have a maturity period of up to five years. By securing this backstop, Pakistan aims to reduce its reliance on multilateral financing and ad hoc rescues from China and Saudi Arabia. The request comes while Pakistan continues to implement fiscal reforms under a $7 billion International Monetary Fund program that mandates strict tax and spending cuts.

Officials indicate that the request follows Pakistan's diplomatic role in mediating talks during the conflict in Iran. Beyond the stabilization fund, Pakistan is seeking deeper economic ties through investments in the Reko Diq mining project and deals involving a stablecoin linked to the Trump family business. Minister Aurangzeb emphasized that the economy remains vulnerable to regional geopolitical developments and sought U.S. assistance to improve sovereign credit ratings and market access. The United States Department of the Treasury has declined to comment on the request.