US supports Pakistan’s efforts to stabilise economy


The US State Department on Friday reiterated its steadfast support for Pakistan’s efforts to bolster its economy, including its engagements with the International Monetary Fund (IMF).

The department’s spokesperson, Matthew Miller, emphasized this unwavering commitment during his daily news briefing in response to a journalist’s inquiry about the US stance on aiding Islamabad’s economic recovery.

Miller affirmed the US backing for Pakistan’s economic stabilization endeavors, 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.

Additionally, he urged the Pakistani government to prioritise and expand economic reforms to tackle its economic hurdles, underscoring that US support for Pakistan’s economic prosperity remains resolute.

The spokesperson 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.

Earlier, the Executive Board of the International Monetary Fund (IMF) has given the green light for a $1.1 billion loan to Pakistan, marking the final installment of a $3 billion Stand-by Arrangement (SBA).

In an official statement released on its website, 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).”

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