Daily Times

The United States (US) will evaluate on merit a bailout package sought by Pakistan from the International Monetary Fund (IMF), the State Department has said.

“We understand that Pakistan has formally sought assistance from the IMF. As we do in all cases, we will examine closely all aspects, including Pakistan’s debt position, in evaluating any loan program,” Spokesperson Heather Nauert said during a briefing. “This is something that we’ve been tracking fairly closely. The secretary had spoken about this a few months back, I know, in some interviews not that long ago,” she said.

The State Department’s comments coincided with Finance Minister Asad Umar meeting IMF Managing Director Christine Lagarde in Indonesia to formally seek a bailout from the global lender.

The US wields huge influence over IMF’s decision-making process.

In July, Secretary of State Mike Pompeo had indicated that the US will review the bailout package in view of the massive Chinese debt on Pakistan. “Make no mistake. We will be watching what the IMF does,” he had said.

Published in Daily Times, October 13^th 2018.