Pakistan Plans Bigger China Swap, Awaits US Decision

Finance Minister Muhammad Aurangzeb said in a Sept. 17, 2026 Reuters interview that Pakistan will make a formal request to expand its fully drawn 30 billion yuan (about $4.2 billion) currency-swap line with China when the facility expires in 2027. After talks with his Chinese counterpart and the central bank governor, he reported officials “were open to it, but there is a process which has to be followed,” and the size of any increase remains undecided. Pakistan also expects a U.S. answer within two months on a $10 billion exchange-stabilization facility and is in talks with EXIM Bank over Boeing aircraft for Pakistan International Airlines and with the DFC over a $5 billion refinery upgrade. Aurangzeb called the China and U.S. tracks complementary, citing a long-standing strategic partnership with Beijing and strong ties with the Trump administration. yet he warned that fighting stretching into November or December “will be an area of concern” and could endanger the 4 percent growth target. No extra IMF aid is sought now; a mission arrives next week. U.S. Treasury, DFC and EXIM did not immediately comment.