Pakistan seeks USD 10 billion US facility to bolster forex stability - The Economic Times Benchmarks
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News›News›International›World News›Pakistan seeks USD 10 billion US facility to bolster
forex stability The Economic Times daily newspaper is available online now. Read Today's Paper Pakistan seeks USD 10
billion US facility to bolster forex stabilitySECTIONSPakistan seeks USD 10 billion US facility to bolster forex
stabilityBy PTILast Updated: Aug 20, 2026, 12:23:00 PM ISTRate StoryFollow usShareFont
SizeAbcSmallAbcMediumAbcLargeSavePrintCommentSynopsisPakistan seeks a $10 billion US facility to bolster its foreign
exchange reserves. This move aims to reassure international investors and stabilize the nation's currency. The
government is negotiating with the US Treasury Department for this exchange stabilization support. Pakistan is currently
implementing an IMF program and seeks market-based financing. Efforts are underway to improve the country's sovereign
credit rating.Listen to this article in summarized format Listen Loading...×× Subscribe to Unlock AI
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StoriesDaily ePaper AccessSmart Market ToolsCurated Investment IdeasAd-lite Experience SubscriptionReutersPakistani
Finance Minister Muhammad Aurangzeb and U.S. Treasury Secretary Scott Bessent shake hands as they meet in Washington,
D.C., U.S. (File Photo)Islamabad: Pakistan has sought a USD 10 billion facility from the US to strengthen its foreign
exchange position and reassure international investors, Finance Minister Muhammad Aurangzeb has said, as the
cash-strapped country seeks to reduce its dependence on repeated emergency financing from friendly countries.Aurangzeb
said the request had been made to the US Treasury Department and negotiations were under way, but no agreement had been
reached so far, according to an interview with Business Recorder newspaper published on Thursday.Also read: Pakistan
extends airspace ban for Indian aircraft till Sep 24He said the initiative is aimed at strengthening foreign exchange
stability and sending a positive signal to international capital markets rather than securing a conventional loan or
credit line."This is not about a credit line or a loan or whatever. This is a signal about our currency stability, a
signal about our foreign exchange stability, and that in turn also allows us that we can go to the market," he said.Live
EventsPakistan has been facing pressure on its external payments for several years and came close to default in 2023
before avoiding it with timely support from the International Monetary Fund (IMF) and bilateral partners.It is currently
implementing the USD 7 billion IMF assistance programme agreed in 2024, while the government is trying to improve its
creditworthiness and regain regular access to international capital markets.The proposed USD 10 billion Exchange
Stabilisation Support Facility from the US comes as Pakistan seeks to move away from a financing model that has relied
heavily on loans, deposits and repeated rollovers from friendly countries to meet its external financing needs.Also
read: Indian authorities remove unauthorised structures outside Pakistan High CommissionAurangzeb said Pakistan's
"complete effort" was to shift towards market-based financing with longer repayment periods rather than depending on
short-term bilateral rollovers."Some will succeed, while with others there might be issues," he said, adding that the
government was nevertheless clear about its objective of reducing reliance on such arrangements.The minister said
Pakistan remained grateful to its bilateral partners for the support extended over the past decade, particularly during
the last three years, but its financing strategy was now being recalibrated.He said the government is working with
international credit rating agencies to improve Pakistan's sovereign rating, which he said had remained stuck since
2003-04."We want to move at least towards a B+ rating," Aurangzeb said.A higher sovereign rating would make it easier
and potentially cheaper for Pakistan to borrow from international markets and raise debt with longer maturities, he
said.The minister said Islamabad is also in discussions on how to eventually exit some of its existing financing
arrangements and expected feedback from either Exim Bank or the US Treasury by the end of September.Pakistan's financial
vulnerability has been a longstanding concern, with the country repeatedly turning to the IMF and friendly nations to
bridge external financing gaps and avoid default.Add as a Reliable and Trusted News Source Add Now! (You can now
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