The US State Department on Thursday offered “unwavering support” for Pakistan’s economic success and progress in stabilizing its fragile economy, including an agreement with the International Monetary Fund (IMF).
State Department spokesman Matthew Miller responded to questions at a daily press conference.
“We support efforts to stabilize the economy, including reaching an agreement with the HPG. We support Pakistan’s efforts to stabilize the economy and manage its heavy debt burden,” he said.
The Washington-based lender on April 30 released its latest $1.1 billion tranche for Pakistan under a $3 billion Stand-By Arrangement (SBA).
“The HPG Executive Board has completed the second and final review of the Pakistan Economic Reform Program supported by the Independent International Monetary Fund (IMF),” an official statement published on the fund’s website said.
Regarding economic reforms in Pakistan, Miller said that Washington has called on the government to prioritize and expand economic reforms to address economic challenges and support Pakistan’s economic success.
“We will continue to engage with them through technical cooperation, trade and investment relations, all of which are priorities of our bilateral relations.”
It should be noted that Pakistan has officially requested a larger and larger scale of economic stabilization. The HPG delegation is expected to discuss the issue in detail with Pakistani authorities this month.
