US Promise Support to Pakistan in Managing Debt Crisis


 US Backs Pakistan in Managing Debt Crisis

The United States has pledged its support to Pakistan in handling its daunting debt burden. With Pakistan seeking a fresh bailout package from the International Monetary Fund (IMF), the US has vowed to assist in managing the country's economic challenges. This support includes encouraging Pakistan to prioritize and expand economic reforms. The State Department spokesperson, Matthew Miller, emphasized the unwavering commitment of the US to Pakistan's economic success. Through technical agreements, trade, and investment ties, the US aims to bolster the bilateral relationship between the two nations.

IMF Agreement: A Boost for Pakistan's Economy

Pakistan's efforts towards economic stability received a significant boost with the recent staff-level agreement between the IMF and the country. Under the $3 billion Stand-By Arrangement, Pakistan is set to receive approximately $1.1 billion pending approval by the IMF board. Finance Minister Muhammad Aurangzeb's ongoing discussions with the IMF in the US highlight Pakistan's determination to address its economic challenges. The possibility of augmenting the Extended Fund Facility (EFF) through climate finance could potentially secure additional support, ranging from $6 to $8 billion. These developments signify a positive step forward for Pakistan's economic recovery.

US-Pakistan Partnership: Strengthening Economic Ties

The collaboration between the United States and Pakistan extends beyond financial assistance, encompassing broader trade and investment cooperation. As Finance Minister Muhammad Aurangzeb engages with the IMF and attends World Bank meetings in the US, the emphasis is on strengthening bilateral economic relations. The IMF chief's acknowledgment of Pakistan's progress and the country's commitment to continued economic reforms underscore the significance of international support. Through sustained engagement and shared objectives, the US-Pakistan partnership aims to foster economic growth and stability in the region.





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