Pakistan Asks US for $10 Billion Stabilisation Facility to Bolster Economy

Pakistan’s Finance Minister Muhammad Aurangzeb has requested the United States to provide a $10 billion Exchange Stabilisation Support Facility to strengthen the country’s economy, according to a media report. The request was made to U.S. Treasury Secretary Scott Bessent.

The Exchange Stabilisation Support Facility, often routed through the U.S. Treasury's Exchange Stabilisation Fund, is a financial backstop mechanism that includes currency swaps, financial guarantees and loans, among other measures. The Dawn newspaper reported on Wednesday (July 22, 2026) that it received confirmation of the request from Pakistan’s embassy in Washington. The embassy did not share further details, and the U.S. Treasury did not respond to Dawn's queries.

An official readout from the embassy noted that Aurangzeb sought U.S. support for Pakistan’s “road-to-market” strategy, which aims to improve access to international capital markets, boost foreign exchange reserves, and enhance sovereign credit ratings. This strategy relies on maintaining strict International Monetary Fund (IMF) discipline to control fiscal deficits and inflation. However, the official readout did not mention the $10 billion amount.

Diplomatic sources in Washington told Dawn that there were “strong chances” the request would be approved, adding 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 remains fragile, and the country is heavily dependent on foreign assistance. It narrowly avoided default in 2023 after the IMF approved a $3 billion loan programme. Islamabad is currently implementing economic reforms under a $7 billion IMF programme approved in 2024, which is tied to a series of policy conditions.