Support Pakistan’s efforts to manage debt burden: US

US State Department Spokesperson Matthew Miller has welcomed the staff level agreement between the International Monetary Fund (IMF) and Pakistan. He said that our support for Pakistan’s economic success is unwavering, supporting Pakistan’s efforts to manage its debt burden.

During the press briefing, State Department spokesperson Matthew Miller clarified that Pakistan has made progress to stabilize its economy. Our support for Pakistan’s economic success is unwavering, he said, encouraging prioritization of economic reforms to address economic challenges.

Matthew Miller said that ties with Pakistan will continue through trade, investment along with technical agreements. These are the priorities of our bilateral relations.

It should be noted that Finance Minister Muhammad Aurangzeb is on a visit to America, where he will participate in the spring meetings organized by the IMF and the World Bank.

Mohammad Aurangzeb said during an interview in Washington that Pakistan has started negotiating a new multi-billion dollar loan agreement with the IMF to support its economic reform program and Pakistan has received at least three loans from the international organization. will apply for the annual program.

The finance minister had said that the IMF’s nine-month $3 billion loan program in Pakistan was nearing completion, a program designed to tackle the balance of payments crisis, given the country’s risk of bankruptcy. had gone.

He said the final $1.1 billion tranche of the deal was likely to be approved by the end of this month and that Pakistan had begun negotiations for a new multibillion-dollar IMF program.

“The market confidence and volatility is in a much better shape than before and in view of this we have started discussions with the fund this week for a comprehensive program,” he said.