Pakistan has reportedly requested a $10 billion financial support package from the United States to strengthen its foreign exchange reserves and reduce pressure on the country’s economy, according to Reuters, which cited a source familiar with the discussions.
The report says Islamabad has proposed establishing a mechanism called the “Bilateral Exchange Rate Stabilization Support Facility,” valued at $10 billion. Under the proposal, repayment could extend over a five-year period, with the initiative intended to bolster Pakistan’s foreign currency reserves, support the Pakistani rupee and reduce dependence on external borrowing.
The reported request comes as Pakistan continues efforts to stabilize its economy after years of financial turmoil, declining foreign exchange reserves and reliance on international assistance. Analysts say Islamabad’s diplomatic role in discussions related to the Iran conflict has strengthened expectations within the government that it could secure broader economic backing from the United States and other international partners.
Pakistan is currently operating under a $7 billion International Monetary Fund (IMF) programme that requires fiscal reforms, higher tax revenues and reduced public spending. In 2023, the country also avoided a sovereign default after receiving a $3 billion emergency IMF bailout.
According to Reuters, Pakistani Finance Minister Muhammad Aurangzeb discussed foreign exchange reserves, access to international capital markets, sovereign credit ratings and Pakistan’s vulnerability to regional geopolitical developments during talks with U.S. Treasury Secretary Scott Bessent.
Despite continued international assistance, Pakistan’s economy remains dependent on debt rollovers and financial support from partner countries, particularly China and Saudi Arabia. Earlier this year, Pakistan repaid approximately $3.5 billion to the United Arab Emirates, while Saudi Arabia extended an additional $3 billion in financial support.
Neither the U.S. Treasury Department nor Pakistan’s Finance Ministry has officially confirmed Reuters’ report. As a result, the reported $10 billion request remains based on Reuters’ reporting and an unnamed source familiar with the matter.
