KARACHI, Pakistan (Reuters) — Pakistan’s push to convert some of its diplomatic goodwill with the Trump administration into economic support has drawn skepticism from economists, who say fresh financing will do little to address the reforms that Islamabad has long avoided.

During a visit by Finance Minister Muhammad Aurangzeb to Washington this week, Pakistan requested a $10 billion US exchange stabilization fund, Reuters reported, citing sources with knowledge of the matter who were not authorized to speak publicly about it.

In a previously unreported development, Pakistan later also pitched a separate trade-finance facility with the US EXIM Bank, said a source who was not authorized to discuss the matter publicly. Both proposals would bolster the rupee and diversify funding beyond the International Monetary Fund, China and Saudi Arabia.

Pakistan helped broker a ceasefire between the US and Iran this year, but its economic fundamentals have remained largely unchanged from before the war began.

Amid tensions with the United Arab Emirates, Pakistan repaid Abu Dhabi $3.5 billion in April, a fifth of its reserves, and turned to a $3 billion Saudi backstop to plug the gap.

While it is unclear whether the US will agree to Pakistan’s proposals, some analysts see benefits for Washington, too.

The Trump administration has sought a greater role in Pakistan’s critical minerals sector, said Uzair Younus, a partner at The Asia Group, adding that the financing is likely to further cement the US role in potential mining deals.

But others doubt the soundness of any US-Pakistani deal.

Adeel Malik, an Oxford University associate professor, called the proposed reserve facility “geopolitical rent,” coming after Pakistan’s mediation in the US-Israeli war on Iran and amid a new series of Middle Eastern escalations in recent days.

Israel, which does not have diplomatic relations with Pakistan, was not involved in the negotiating process.

IMF-enforced reforms have recently shown some impact. S&P Global Ratings on Wednesday upgraded Pakistan to B from B-, its first upgrade in nine years, citing stronger fiscal and institutional........

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