Pakistan has sought a $10 billion currency support facility from the United States that could help strengthen its foreign exchange reserves and provide relief to its financially strained economy, Reuters reported, citing a source familiar with the matter.
The request comes after Pakistan’s role in facilitating talks related to the Iran war boosted its diplomatic standing and raised expectations in Islamabad that it could seek economic benefits from Washington and other international partners.
According to the source, Pakistan has approached US Treasury Secretary Scott Bessent for a Bilateral Exchange Stabilisation Support Facility between the two governments, with a maturity period of up to five years.
If approved, the facility would help Pakistan increase its reserves, reduce pressure on the Pakistani rupee and lower its dependence on multilateral financial support, even as the country continues implementing fiscal and monetary reforms under its International Monetary Fund program.
Pakistan remains under a $7 billion IMF program that has required tax increases, spending controls and other reforms that have carried political costs.
Pakistan seeks Canada’s support on IWTIslamabad's effort to rally international support for the restoration of the Indus Waters Treaty (IWT) received no visible endorsement from Ottawa, after Foreign Minister Anita Anand declined to publicly address Islamabad’s appeal during a joint press conference in Islamabad. Standing next to Anand, Pakistan’s Deputy Prime Minister and Foreign Minister Ishaq Dar called on Ottawa to support his country’s call for India to immediately reinstate the six-decade-old water-sharing agreement. “We seek the support of our friendly countries, including Canada, towards India’s immediate restoration of the IWT, ending the weaponization of water and upholding international law and treaty obligations,” he said. But, the Canadian delegation offered no public response. Its statement after the meeting focused on bilateral relations and broader areas of cooperation, without referring to the treaty or Pakistan’s request. |
