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US Encourages Pakistan to ‘continue working with (IMF)
International Monetary Fund and other international financial institutions towards macroeconomic reforms’ for the sake of the nation’s economic stability. This US Encourages Pakistan to ‘continue working with IMF emphasizes the significance of ongoing collaboration between Pakistan and key financial institutions. Many view such cooperation as crucial for steering the country towards economic resilience and sustainable growth.
PTI’s Letter to the IMF Comes Before New Bailout Package Talks
#imran
The PTI’s letter to the Fund, urging support for an audit of the 2024 elections to maintain political stability in the nation, precedes engaging in negotiations with Islamabad on a fresh bailout package.
In Islamabad, PTI leader Barrister Gohar Khan announced that Raoof Hasan, Imran Khan’s spokesperson, delivered a letter to the IMF resident representative in Pakistan. The letter will be opened in Washington. Khan claimed it will be shared with Pakistani media. This will happen as soon as it reaches the designated recipients.
The spokesperson declared, “At this time, we can disclose that Imran Khan, the founder of the PTI, opposes any negative impacts on Pakistan’s economy.” He then added, “We have reminded the IMF of its pledges to hold a free and fair election in the letter.”
US Encourages Pakistan department spokesperson Matthew Miller was questioned with the PTI’s letter on Wednesday at a routine news briefing.
The US encourages Pakistan to continue its efforts towards regional stability and counterterrorism cooperation.
The US Encourages Pakistan is aware that Pakistan requires $2 billion in March to prevent economic collapse. The reporter asked, “How does the United States view PTI’s attempt to contact the IMF and also discuss election rigging?”
Miller Calls For stability And Economic Reform In Pakistan
Miller stated, “We support Pakistan’s efforts to break free from the vicious cycle of debt and international financing with respect to the IMF.” He emphasized that Pakistan’s stability relied on its long-term economic and governance health. According to him, Pakistan’s new administration must prioritize addressing the economic crisis immediately. The decisions made in the coming months will determine the stability of the country’s economy for its citizens.
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Additionally, the US encourages Pakistan toward macroeconomic reforms with the IMF and other international financial institutions.”
Last summer, a short-term IMF bailout aided Pakistan in avoiding default, but the program concludes in April. The next administration will have to negotiate a long-term agreement to sustain economic stability.
Last week, the director of the IMF’s communications department, Julie Kozack, faced questions. They asked if Pakistan was on track to receive the third tranche of the short-term deal. Additionally, they inquired if the IMF would consider any letter from PTI’s Imran on election irregularities.
Kozack responded, “The IMF executive board approved the first review of the Stand-By Arrangement with Pakistan on January 11. This approval brings the total disbursements under the Stand-By Arrangement to $1.9 billion.” The Stand-By Arrangement supports the authority’s efforts to stabilize the economy, with a focus on safeguarding the most vulnerable.
This has been accomplished by closely adhering to budgetary constraints and safeguarding the social safety net. In order to keep foreign exchange reserves growing and rein in inflation, a strict monetary policy stance has been maintained, the speaker stated.
US Encourages Pakistan We are eager to collaborate with the incoming administration on measures that will guarantee prosperity and macroeconomic stability for every Pakistani. And I’m going to end it there.
Kozack stated, “I’m not going to comment on ongoing political developments,” in reference to Imran’s letter. I therefore have nothing else to say in addition to what I have said.
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