US supports Pakistan’s efforts for IMF bailout

WASHINGTON: The US State Department said on Thursday that Washington supports Pakistan’s efforts to stabilise its economy, including by reaching agreements with the International Monetary Fund (IMF), and this support was unwavering.

The department’s spokesperson, Matthew Miller, highlighted this robust US support for Pakistan’s endeavours at his daily news briefing when a journalist questioned the US rationale for helping Islamabad rebuild its economy.

“When it comes to efforts to stabilise its economy, we support those efforts, including reaching an agreement with the IMF,” said the US official while rejecting the suggestion that Pakistan may use the funds for its missile programme.

He also encouraged the Pakistani government to prioritise and expand economic reforms to address its economic challenges. “And our support for Pakistan’s economic success is unwavering,” he added.

The United States, he said, would continue to engage with Pakistan, and this would include “technical engagements” as well as strengthening “our trade and investment ties”. “All of these are priorities for our bilateral relationship,” he added.

Earlier this week, the IMF executive board disbursed $1.1 billion to Pakistan as the final portion of a $3bn loan package.