US Backs Pakistan's Economic Recovery Efforts

The United States has reiterated its strong support for Pakistan's economic recovery efforts, particularly its collaboration with the International Monetary Fund (IMF) to secure a new loan programme. State Department Spokesperson Matthew Miller emphasized Washington's unwavering commitment to assisting Pakistan in stabilizing its economy. He affirmed US support for Pakistan's economic stabilization initiatives, highlighting the significance of reaching agreements with the IMF. Miller dismissed any concerns about the financial aid being diverted towards Pakistan's missile programme, stating that the assistance is specifically aimed at economic stability.

Furthermore, the State Department spokesman urged the Pakistani government to prioritize and expand economic reforms to address existing challenges. He assured continued engagement between the United States and Pakistan, focusing on technical collaborations and efforts to strengthen trade and investment relations. Miller underscored the importance of these aspects in the bilateral relationship, emphasizing that they are top priorities for both countries.

Recently, the IMF's Executive Board approved a $1.1 billion loan tranche for Pakistan, marking the final installment of a $3 billion Stand-by Arrangement. This decision follows the completion of the second and final review of Pakistan's economic reform program supported by the IMF's SBA. The disbursement of the approved amount will further support Pakistan's economic recovery efforts.