Tue. May 30th, 2023

US State Department spokesperson Ned Price says that the US wants to see Pakistan economically stable. These days Pakistan is facing many economic challenges one after the other and is going through an economic crisis.

America wants to see Pakistan economically sustainable
America wants to see Pakistan economically sustainable


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US State Department spokesman Ned Price said during a press briefing on Wednesday when asked about Pakistan’s dwindling foreign exchange reserves and the resulting economic crisis, “This is a challenge that we have to face.” Aware. I know that Pakistan is working with international financial institutions like the IMF.”

“We want to see Pakistan economically sustainable,” Ned Price said. Depends on the conversation between.”

When Ned Price was asked what the US was talking about with its Pakistani partners regarding immediate steps to improve Pakistan’s economy, a US State Department spokesperson said, “What is happening with our Pakistani partners is These discussions often revolve around technical issues.”

Ned Price said, “Often times this goes on between the Treasury Department and our Pakistani partners, but Pakistan’s macroeconomic stability is an important part of the conversation between the State Department and our counterparts, the White House, the Treasury Department and other departments. “

This statement of the United States has come at a time when fears of bankruptcy are being expressed due to the bad economic situation of Pakistan and also to bring a mini budget in the country to fulfill the conditions of the International Monetary Organization (IMF). There are reports.

Continued decline in foreign exchange reserves

Although the government is taking all possible measures to improve the country’s economy, its foreign exchange reserves have reportedly fallen below five billion dollars. According to reports, foreign exchange reserves fell to $4.3 billion last week, which is said to be enough for three weeks of imports.

Pakistan is in talks with various international financial institutions. Earlier this month, Pakistani Prime Minister Shehbaz Sharif held talks with IMF chief Cristalina Georgiou. and requested to end the deadlock in the release of the next installment of financial assistance.

The IMF has refused to release a new tranche of the approved loan, saying Pakistan has not fulfilled the commitments it made before refinancing the $6 billion loan last year.

The money was originally supposed to be released in November last year, the non-release of which has left Pakistan with only three weeks of foreign exchange to pay for imports. According to reports, an IMF delegation may visit Pakistan next month.

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