Pakistan has sought a $10 billion aid facility from the United States to ease economic pressure
WASHINGTON – Pakistan has approached the US for a proposed $10 billion exchange stabilization arrangement aimed at strengthening its foreign exchange reserves. International media reported this on Wednesday.
The request calls for a bilateral assistance facility between Islamabad and Washington, possibly for a period of up to five years. If approved, this arrangement could help Pakistan increase foreign exchange reserves, provide support to the rupee and reduce dependence on external sources of finance.
The move comes at a time when Pakistan continues to implement economic reforms under its International Monetary Fund program, including stringent fiscal and monetary measures.
The request follows Pakistan’s recent diplomatic engagement in efforts to address the Iran conflict, which has increased its international visibility and raised expectations for greater cooperation with global partners, including the United States.
Meanwhile, Federal Minister of Finance and Revenue, Senator Muhammad Aurangzeb, met the US Finance Minister Mr. Scott Besant in Washington DC.
During the meeting, the finance minister highlighted Pakistan’s journey from macroeconomic stability to sustainable, export-led growth, noting the economy’s vulnerability to regional geopolitical developments.
Senator Aurangzeb called for greater US support for Pakistan’s road to market through better access to international capital markets, higher foreign exchange reserves, and enhanced sovereign credit ratings.
The two sides reiterated their commitment to deepen bilateral economic cooperation, promote greater US investment, and advance strategic projects.
The post Pakistan asked the US for 10 billion dollars in aid to reduce economic pressure appeared first on Daily Pakistan English News.
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