ISLAMABAD: Finance Minister Ishaq Dar briefed US Ambassador to Pakistan Donald Blome on Pakistan’s economic situation and challenges on Thursday.
Dar shared with the US envoy the practical policy decisions taken by Pakistan to arrest the economic decline and steer the economy towards a positive trajectory, leading to economic stability and growth. Additionally, he informed Ambassador Blome about the progress in talks between the Pakistan government and the International Monetary Fund (IMF) and reiterated their commitment to completing the loan program.
The US envoy expressed satisfaction over the steps taken by the Pakistani government to ensure economic sustainability for the people of the country. The two dignitaries exchanged views on matters of mutual interest and expressed interest in enhancing existing bilateral relations between the two countries.
The finance minister lauded the US ambassador and reiterated the government’s resolve to deepen bilateral trade relations with America. The IMF is negotiating with Pakistan to resume $1.1 billion in funding held since November, which is part of a $7 billion bailout agreed in 2019.
The IMF loan programme is vital for Pakistan as it will unlock other external financing avenues, helping the South Asian country avoiding a default.
In a major move, the IMF confirmed to Pakistan that it received assurance from the Kingdom of Saudi Arabia regarding provision of additional $2 billion as a guarantee for revival of the stalled programme. The Saudi Arabia confirmed to the IMF that it was going to give $2 billion to Pakistan.
