Pakistan Seeks $10 Billion from U.S. After Mediating in Iran War Talks — Pajhwok

KABUL (Pajhwok): Pakistan has asked the United States to establish a $10-billion financing facility to strengthen its foreign exchange reserves and support the value of the Pakistani rupee following its mediation in talks related to the war involving Iran. Islamabad submitted the request to U.S. Treasury Secretary Scott Bessent. According to the report, Pakistan has proposed that the two countries establish a $10-billion bilateral exchange-rate stabilization program with a repayment period of up to five years. The source said that, if approved by Washington, the facility could strengthen Pakistan’s foreign exchange reserves, ease pressure on the rupee and reduce the country’s dependence on financing from multilateral institutions. Reuters reported that the U.S. Treasury Department had not commented on the request, while Pakistan’s Finance Ministry had not responded to the news agency’s questions. The report also said that Pakistan’s Finance Minister Muhammad Aurangzeb met with the U.S. treasury secretary in Washington on Tuesday. Pakistan’s Finance Ministry said Aurangzeb discussed his country’s economic vulnerability to regional geopolitical developments and its need for greater U.S. support. However, the ministry’s official statement did not mention the $10-billion request. The request comes after Pakistan strengthened its diplomatic standing by mediating in talks related to the war involving Iran, raising expectations that Islamabad could secure economic concessions from Washington. According to the report, Pakistan is currently…