Pakistan turns to US for $10 billion financial boost amid economic struggles

The proposed assistance is expected to bolster the cash-strapped South Asian nation's financial position by improving its foreign exchange reserves and easing debt pressures.

Officials at Pakistan's embassy in Washington confirmed the request to Dawn News, although they did not provide further details.

An official readout issued by the embassy said Aurangzeb sought US support for Pakistan's economic roadmap, focusing on improved access to international capital markets, stronger foreign exchange reserves, and enhanced sovereign credit ratings, Dawn News reported.

However, the embassy's statement did not mention the reported $10 billion request.

In a post on X, Pakistan's Finance Ministry said Aurangzeb briefed Bessent on the country's recent economic progress.

"Finance Minister Senator Muhammad Aurangzeb briefed the US Treasury Secretary on Pakistan's journey toward macroeconomic stability, sustainable and export-led growth," the ministry said.

According to the post, Aurangzeb also highlighted the adverse economic impact of the prevailing regional security situation on Pakistan.

According to Dawn News, the proposed Exchange Stabilisation Support Facility would allow the US government, through the Treasury's Exchange Stabilization Fund, to extend loans or other financial backstop mechanisms to Pakistan. The assistance would aim to strengthen the country's foreign exchange reserves, reduce debt-related pressures, and support overall economic stability.

Diplomatic sources in Washington told Dawn there were "strong chances" that the $10 billion request would receive US approval.

One source told the newspaper that the Trump administration "has a keen interest in remaining engaged" with Pakistan and has "more than once pledged" to support efforts aimed at strengthening the country's economy.