Daily Times

The United States supports Pakistan’s efforts to “break free” from the vicious cycle of debt and financing, a State Department Spokesperson has said, urging the new government to continue working with the International Monetary Fund (IMF) and other global financial institutions. “Pakistan’s new government must immediately prioritize the economic situation because the policies over the next several months will be crucial to maintaining economic stability for Pakistanis,” Spokesperson Mathew Miller told his daily news briefing on Wednesday. The spokesperson was responding to a question at the daily State Department briefing about a letter sent by ex-PTI’s Chairman Imran Khan’s to the IMF, suggesting to link the next loan facility to an audit of the Feb 8 general elections in the country. “I’ll just say with respect to the IMF that we support Pakistan’s efforts to break free from the vicious cycle of debt and international financing,” the Spokesperson added. “The long-term health of Pakistan’s government – or economy is crucial to its stability,” Miller added. Pakistan has been facing financial challenges in recent years, with dwindling foreign exchange reserves and declining value of its national currency.