File photo: US President Donald Trump with Pakistani Prime Minister Shahbaz Sharif and field marshal Asim Munir
Pakistan has quietly approached the Trump administration for a $10 billion “exchange stabilization facility,” a financial lifeline that would shore up its fragile economy even as it seeks to capitalize on its renewed diplomatic importance in the Middle East.The request, first reported by Reuters, was made directly to US treasury secretary Scott Bessent and envisions a five-year facility designed to strengthen Pakistan’s foreign exchange reserves and ease pressure on its rupee. US sources say the proposal is under consideration and no decision has been made.If approved, the arrangement would be unusual because since 2002 the US Treasury Department has extended comparable exchange stabilization facilities to only two countries – to Argentina more recently and to…
