The geopolitics behind Pakistan’s $10 billion US request
Pakistan has reportedly asked the United States for a $10 billion currency-swap facility from the US Treasury’s Exchange Stabilisation Fund. The request arrived at an extraordinary moment: the United States is at war with Iran, Pakistan has become an important channel for diplomacy between Washington and Tehran, and Islamabad is again trying to turn geopolitical relevance into economic relief. The details of the proposal remain unsettled. Its legal structure, pricing, maturity, conditions and pe...
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