Pakistan’s Finance Minister Muhammad Aurangzeb has announced that Islamabad has requested the United States to establish a $10 billion foreign exchange line to boost the confidence of private investors.
A currency swap line is a financial framework under which two countries or central banks provide each other with the required currency in times of need to reduce foreign exchange shortages and pressure on financial markets.
In an interview with the Financial Times, Aurangzeb said that negotiations with Washington on this issue are proceeding constructively and Islamabad hopes to receive a response in the next few months.
Pakistan is trying to increase its exports and reduce recurring problems in the balance of payments sector, the finance minister added.
