Pakistan Seeks $10 Billion US Financial Facility to Bolster Reserves

Washington/New York, July 22, 2026) — Cash-strapped Pakistan has formally requested a $10 billion Bilateral Exchange Stabilization Support Facility from the United States, according to sources familiar with the matter. The proposed arrangement, with a maturity of up to five years, aims to strengthen the country’s foreign exchange reserves, ease pressure on the Pakistani rupee, and reduce reliance on repeated International Monetary Fund (IMF) bailouts. The request was made to US Treasury Secretary Scott Bessent during high-level discussions in Washington. Pakistan’s Finance Minister Muhammad Aurangzeb met Bessent on Tuesday, highlighting the vulnerabilities of Pakistan’s economy to regional geopolitical developments۔ This move comes as Pakistan’s diplomatic profile has risen following its role in brokering talks related to the Iran conflict, raising hopes in Islamabad for enhanced economic cooperation with Washington. If approved, the facility would provide a significant lifeline for the South Asian nation, which continues to implement tight fiscal and monetary policies under its ongoing IMF program. The US Treasury has declined to comment on the reported request, while Pakistan’s Finance Ministry has not yet issued an official response. Such bilateral exchange stabilization facilities are relatively rare, with Mexico maintaining a notable long-standing swap line as a comparable example. Pakistan narrowly avoided default in 2023 and has been navigating economic challenges, including high public debt and external repayment pressures. Analysts view the request as both a financial necessity and a signal of deepening bilateral ties with the United States.