Washington: The United States promised to assist Islamabad in managing the nation’s “daunting debt burden” on Wednesday, as Pakistan attempts to get a new International Monetary Fund (IMF) bailout package.
“We back Pakistan’s attempts to handle its enormous debt load, since it has made strides toward stabilizing its economy. When questioned about whether the US would support Pakistan through difficult times, State Department spokesman Matthew Miller responded, “We encourage the government to prioritize and expand economic reforms to address its economic challenges.”
Miller said that the US will continue to engage with Pakistan through trade and investment links, technical agreements, and unflinching support for the country’s economic success—all of which are top goals for the US.
He also praised the agreement reached at the staff level between the global lender and Pakistan over the second and last review under the $3 billion Stand-By Arrangement. Should the board of the global lender approve it, this will release approximately $1.1 billion to the financially troubled South Asian country.
Currently in the US, Finance Minister Muhammad Aurangzeb is attending World Bank meetings and holding talks with the IMF over a potential new bailout package.
