July 3, 2023
1 min read

How US helped Pakistan in securing IMF bailout

The Pak embassy also sought the support of key US lawmakers, including Senator Lindsey Graham who met a Pakistani team days before the deal….reports Asian Lite News

The United States played a key behind-the-scenes role to help Pakistan secure a $3 billion bailout package with the International Monetary Fund (IMF), media reported.

The recent staff-level agreement (SLA) came after an eight-month delay in releasing funds from a 2019, $6 billion loan.

“The United States supported Pakistan throughout the process but also insisted that they implemented the reforms they agreed with the IMF,” a diplomatic source said, Dawn reported.

According to these sources, Foreign Minister Bilawal Bhutto-Zardari had at least two telephonic conversations with Secretary Antony Blinken over this issue. The matter was also discussed in face-to-face meetings between the two leaders.

The Pakistan embassy in Washington maintained regular contacts with officials at the US Treasury and State Department. At the Treasury, they worked with Deputy Under Secretary Brent Nieman, who oversees international financial matters.

The embassy also sought the support of key US lawmakers, including Senator Lindsey Graham who met a Pakistani team days before the deal.

The breakthrough, however, came in late June when Prime Minister Shehbaz Sharif met IMF’s Managing Director Kristalina Georgieva in Paris and asked her to release the critical tranche of $1.1 billion withheld since November, Dawn reported.

ALSO READ: Terror attacks on rise in Pakistan

Previous Story

Australia, India to hold joint maritime patrols

Next Story

Jaishankar: Current downturn in ties created by China

Latest from -Top News

Mass Expulsions Close Afghan Shops in Pakistan

As Pakistan intensifies its mass deportation drive against Afghan refugees, the once-bustling Afghan-owned businesses in Rawalpindi are falling silent. With the March 31 deadline for repatriation passed, a growing number of Afghan-run

South Korea Sets June 3 Presidential Election

South Korea will hold a presidential election on June 3, the government confirmed on Tuesday, setting the stage for a new leadership following the impeachment and removal of former President Yoon Suk

RPP Rallies for Return of Nepal’s Monarchy

Police on alert as royalist rallies return to the capital Kathmandu witnessed heightened tensions on Tuesday as the pro-monarchy Rastriya Prajatantra Party (RPP) staged a high-profile demonstration demanding the reinstatement of Nepal’s
Go toTop

Don't Miss

US House Passes Bill to Resume Arms Deliveries to Israel

The US is currently withholding a delivery of ammunition due

US Senator: China Months Away From US in Race For AI Supremacy

The Biden administration’s recent decision to tighten controls on the