Matthew Miller, a spokesman for the department, stated, “We support efforts to stabilize its economy, including reaching an agreement with the IMF.”
He declared, “Our trade and investment ties, as well as our technical engagements, are all priorities of our bilateral relationship, and we will continue to engage with them through their economic success.”
it is important to note that an International Monetary Fund (IMF) delegation will visit Pakistan this month to talk about a new “long-term and larger” loan package designed to assist the government in paying back billions of dollars in debt that is due this year.
Discussions on a new loan plan have been set between Pakistan and the foreign lender. There will be two stages to the meetings: technical discussions and policy-level conversations.
Prior to the upcoming negotiations, Pakistan must overcome formidable economic obstacles, including the collapse of an IMF-proposed tax amnesty program.
As part of the $3 billion standby arrangement, Pakistan recently got the much awaited $1.1 billion last payment from the IMF.
Special Drawing Rights (SDR) 828 million, or $1.1 billion in worth, were given to the SBP “after the successful completion of the second review by the Executive Board of IMF under Stand By Arrangement (SBA),” according to the SBP.
Pakistan is requesting a new, longer-term loan from the IMF, and according to Finance Minister Muhammad Aurangzeb, Islamabad could get an agreement at the staff level on the new program by early July.
