Govt seeks greater US support for economic growth

July 22, 2026 (MLN): Pakistan sought greater U.S. support to strengthen its economic transformation during a meeting between Finance Minister Muhammad Aurangzeb and U.S. Treasury Secretary Scott Bessent in Washington, D.C.

During the talks, Muhammad Aurangzeb outlined Pakistan's transition from macroeconomic stabilization toward sustainable, export-driven growth, while emphasizing that the country's economy remains exposed to regional geopolitical risks.

The finance minister called for stronger U.S. backing to improve Pakistan's access to international capital markets, boost foreign exchange reserves, and support higher sovereign credit ratings.

In this regard, Pakistan has requested a $10bn BilateralExchange Stabilization Support Facility from the United States with a maturity of up to five years, according to a Reuters report citing a source familiar with the matter.

If approved, the arrangement would help strengthen Pakistan's foreign exchange reserves, reduce pressure on the rupee and lessen reliance on financing from multilateral institutions.

Reuters reported that the proposed facility would provide a rare U.S. Treasury backstop to help stabilize Pakistan's external position while the country continues implementing fiscal and monetary reforms under its $7bn IMF Extended Fund Facility.

The report said Pakistan has remained under the IMF programme, which has required higher taxes, spending restraint and structural reforms, while its external financing continues to rely heavily on official inflows, debt rollovers and deposits from friendly countries.

Both sides also reaffirmed their commitment to expanding bilateral economic cooperation, encouraging greater U.S. investment, and advancing strategic projects between the two countries.

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