Pakistan has formally asked the United States for a financial stabilization facility of up to $10 billion to strengthen its foreign-exchange position and support currency stability, according to Pakistani officials and earlier reporting by Reuters.
Khurram Schehzad, an adviser to Pakistan’s finance minister, told Bloomberg on Tuesday that discussions with Washington had been “constructive.” He said the proposed facility could serve as a financial backstop, strengthen market confidence, improve access to financing and help attract private investment.
Pakistan has requested the facility from US Treasury Secretary Scott Bessent. Reuters previously reported that Islamabad was seeking a Bilateral Exchange Stabilization Support Facility of up to $10 billion, with a maturity of as much as five years.
Pakistani officials have described the proposed arrangement as a financial backstop rather than a conventional loan. Finance Minister Muhammad Aurangzeb has said the facility would be intended to support confidence in Pakistan’s currency and foreign-exchange position and help the country regain access to international capital markets.
Schehzad said Pakistan expects a response from Washington within the next couple of months. No agreement has been finalized, and the size, terms and conditions of any eventual US support remain under discussion.
The request comes as relations between Pakistan and the United States have improved during President Donald Trump’s second term. Islamabad has sought closer engagement with Washington on regional issues, including diplomatic efforts during the US-Iran conflict.
Pakistan’s economy came close to default in 2023 before the country secured an IMF bailout. It remains under a $7 billion IMF program approved in 2024 and continues to rely on external financing and support from international and bilateral partners.
The government has said it wants to reduce its dependence on repeated bilateral financing and refinancing arrangements and increase access to international capital markets. Pakistan has also pointed to fiscal and economic reforms implemented under its IMF program as part of efforts to improve economic stability.
