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Reading: US Backs Pakistan’s Economic Reform Efforts Amid IMF Discussions
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US supports Pakistan IMF reforms
PhotoNews Pakistan > Business > US Backs Pakistan’s Economic Reform Efforts Amid IMF Discussions
Business

US Backs Pakistan’s Economic Reform Efforts Amid IMF Discussions

Web Desk
By Web Desk Published February 29, 2024 1 Min Read
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US supports Pakistan IMF reforms. Photo: The Express Tribune
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The United States expressed its backing for Pakistan’s initiatives to escape the cycle of debt and reliance on international financing, emphasizing the importance of Islamabad’s engagement with global financial bodies for macroeconomic reforms. This stance was articulated by Mathew Miller, a spokesperson for the US State Department, in response to inquiries about a letter from Imran Khan, the founder of Pakistan Tehreek-e-Insaf (PTI), to the International Monetary Fund (IMF).

If this is PTI's original letter to IMF, two major points are missing to what Barrister Ali Zafar initially said:
1- PTI has taken back its demand of an electoral audit by IMF.
2- Demand of making new IMF program 'conditional' with the 'audit first' also withdrawn. pic.twitter.com/NZUSA7IEOJ

— Hassam Ahmed (@HassamSyeed) February 28, 2024

Miller highlighted the significance of Pakistan’s economic health for its stability and urged the forthcoming government to focus on the economy, noting the critical nature of upcoming policies for economic steadiness.

The US encourages Pakistan’s collaboration with the IMF and other institutions to foster reforms. Pakistan, grappling with economic challenges following a $3 billion IMF arrangement, faces inflation, currency devaluation, and dwindling reserves. China’s $2 billion loan extension offers temporary relief, but analysts anticipate the new government will seek further IMF support.

According to Reuters, PTI has aired grievances about the recent elections in a letter to the IMF, alleging vote counting and result compilation fraud, a claim the IMF has not yet responded to.

PTI letter to IMF ❎✅ ? pic.twitter.com/aM0MPyU5Np

— Malik (@SETE_RealEstate) February 29, 2024
TAGGED:FeaturedPakistan Tehreek-e-Insaf
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