Pakistan requests $10B US aid for currency stability

Pakistan has requested the United States to provide a support mechanism valued at $10 billion to help stabilize the foreign exchange market, aiming to improve foreign currency reserves and ease pressure on the rupee. This request comes after mediating talks regarding the war with Iran, as Islamabad seeks to reduce its reliance on the International Monetary Fund through direct American support. The Pakistani government proposed establishing a bilateral mechanism to support exchange rate stability for up to five years. This support aims to strengthen the country's ability to withstand financial crises and facilitate its access to international capital markets.

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