Pakistan just asked the U.S. for a $10B exchange stabilization facility. That's not a casual loan — it's a Treasury backstop that's been granted to only two countries since 2002.
Context matters: they almost defaulted in 2023. Still relying on Chinese and Saudi rollovers to keep reserves afloat. Now they're leveraging their role in the Iran talks to ask for breathing room on the rupee.
Diplomacy isn't charity. It's a transaction. And this one comes with a very specific price tag.
Context matters: they almost defaulted in 2023. Still relying on Chinese and Saudi rollovers to keep reserves afloat. Now they're leveraging their role in the Iran talks to ask for breathing room on the rupee.
Diplomacy isn't charity. It's a transaction. And this one comes with a very specific price tag.