Pakistan has asked the United States for a $10 billion exchange stabilisation facility as Islamabad seeks to shore up its foreign exchange reserves and ease pressure on its cash-strapped 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 raised its diplomatic profile and fuelled expectations in Islamabad that the country could seek economic gains from Washington and other international partners.

According to the report, Pakistan has approached US Treasury Secretary Scott Bessent for a Bilateral Exchange Stabilisation Support Facility worth $10 billion between the US and Pakistani governments.

The facility could have a maturity of up to five years.

If approved, the facility could bolster Pakistan’s reserves, support the Pakistani rupee and reduce the country’s dependence on multilateral financing, even as Islamabad continues to implement tough fiscal and monetary reforms under its International Monetary Fund programme.

Pakistan seeks greater US economic support Pakistan’s Finance Minister Muhammad Aurangzeb met Bessent in Washington on Tuesday.

Pakistan’s finance ministry said Aurangzeb had raised the vulnerability of the country’s economy to regional geopolitical developments.

The ministry did not mention the reported request for a $10 billion facility, as reported by Reuters.

However, it said Aurangzeb sought greater US support for Pakistan’s access to international capital markets, higher foreign exchange reserves and improved sovereign credit ratings.

The two sides also reaffirmed their commitment to deepening bilateral economic cooperation, encouraging greater US investment and advancing strategic projects, the ministry said.

What is an exchange stabilisation facility? Exchange stabilisation facilities are rare US Treasury-backed mechanisms designed to provide support to foreign exchange reserves and currencies.

They can involve dollars, currency swaps or guarantees.

Such facilities are usually routed through the US Treasury’s Exchange Stabilization Fund.

They are different from the permanent dollar swap lines maintained by the US Federal Reserve with some major central banks.

A 2025 package for Argentina was the first new foreign-government exchange stabilisation facility operation since Uruguay in 2002, apart from Mexico’s long-standing swap line.

For Pakistan, a US facility would offer more than a liquidity cushion.

It would also represent a significant political signal from Washington as Islamabad seeks to deepen economic ties with the Trump administration.

Pakistan remains under $7....