The U.S. State Department on Thursday said Washington supports Pakistan’s efforts to stabilize its economy, adding the support for Islamabad’s economic success is unwavering.
“When it comes to efforts to stabilize its economy, including through reaching an agreement with the IMF, we support those efforts,” said spokesperson Matthew Miller of Pakistan’s economy, while rejecting a suggestion that Pakistan could use funds secured from bailout for its missile program.
“We support the progress that Pakistan has made to stabilize its economy and manage its daunting debt burden. We encourage the government to prioritize and expand economic reforms to address its economic challenges, and our support for Pakistan’s economic success is unwavering and we will continue to engage with them through technical engagements as well as through our trade and investment ties, all of which are priorities of our bilateral relationship,” he added.
Earlier this week, the IMF Executive Board disbursed the final tranche of $1.1 billion to Pakistan under a $3 billion Standby Arrangement inked last year. The incumbent government has already expressed formal interest in entering an extended facility in the coming months, with authorities saying the global lender would send a mission to Islamabad in this regard later this month.