The United States expressed support for Pakistan’s efforts to break free from the cycle of debt and international financing.
US State Department Spokesperson Mathew Miller, responding to questions about a letter from Pakistan Tehreek-e-Insaf (PTI) founder Imran Khan to the International Monetary Fund (IMF), emphasized the importance of Pakistan’s long-term economic health for stability.
Miller urged the incoming government to prioritize the economic situation, stating that policies in the coming months are crucial for maintaining economic stability.
Pakistan, grappling with a cash-strapped economy, secured a $3 billion standby arrangement from the IMF last summer. Washington encouraged Pakistan to continue collaborating with the IMF and other international financial institutions towards implementing macroeconomic reforms. China extended a $2 billion loan to Pakistan, due in March, for an additional year.
Analysts predict that a new government, likely to be formed by PTI’s opponents, may seek more funds from the IMF after the standby arrangement expires in April.
Simultaneously, the PTI released a letter addressed to IMF Managing Director Kristalina Georgieva, alleging widespread intervention and fraud in the February 8 general elections. The letter asserted that such abuses of power should not be promoted or upheld by the IMF, emphasizing the organization’s principles. The IMF, as of now, has not officially received the letter.
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