Daily Times

The United States has again declared that it steadfastly supports Pakistan’s efforts to bolster its economy, including its engagements with the International Monetary Fund (IMF) to seek new loan programme.

During daily news briefing in Washington on Thursday, State Department Spokesperson Matthew Miller emphasized Washington’s unwavering commitment to aiding Pakistan’s economic recovery. Miller affirmed the US backing for Pakistan’s economic stabilization endeavours, explicitly mentioning the importance of reaching agreements with the IMF. He dismissed any insinuation that the financial assistance might be diverted towards Pakistan’s missile programme. “When it comes to efforts to stabilise its economy, we support those efforts, including reaching an agreement with the IMF,” said the US official while rejecting the suggestion that Pakistan may use the funds for its missile programme.

Additionally, the State Department spokesman urged the Pakistani government to prioritize and expand economic reforms to tackle its economic hurdles, underscoring that US support for Pakistan’s economic prosperity remains resolute. Miller assured continued engagement between the United States and Pakistan, encompassing technical collaborations and efforts to enhance trade and investment ties. He emphasized that these aspects remain key priorities in the bilateral relationship.

The United States, he said, would continue to engage with Pakistan, and this would include “technical engagements” as well as strengthening “our trade and investment ties”. “All of these are priorities for our bilateral relationship,” he added. Earlier, the Executive Board of the International Monetary Fund (IMF) had given approval to $1.1 billion loan tranche to Pakistan, marking the final installment of a $3 billion Stand-by Arrangement (SBA).

In an official statement released on its website last month, the IMF stated, “The Executive Board of the International Monetary Fund (IMF) has completed the second and final review of Pakistan’s economic reform program supported by the IMF’s Stand-By Arrangement (SBA). This decision paves the way for an immediate disbursement of SDR 828 million (approximately $1.1 billion), bringing the total disbursements under the arrangement to SDR 2.250 billion (approximately $3 billion).”