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

‘Kill and Dump’ Haunts Balochistan Again

The latest killings have reignited accusations of extrajudicial executions and the use of counterterrorism laws to cover up custodial deaths in Balochistan….reports Asian Lite News Concerns have deepened across Balochistan following the

‘ASEAN Expands, But Keeps Its Soul’

Malaysian Foreign Minister Mohamad Hasan urged ASEAN to uphold its unity and strategic resolve amid intensifying geopolitical tensions and mounting external pressures…reports Asian Lite News Consensus and inclusivity will remain the cornerstones

Bangladesh bends to beat Trump’s blow

Dhaka seeks compromise as Trump’s 35% tariff looms large over key exports; Washington urges worker protections, factory relocation to US…reports Asian Lite News Bangladesh has opened the second round of critical trade

China seethes as US lands F-35s in PH

As US F-35 jets land in the Philippines for the first time, Manila cements its frontline role in Washington’s power play against rising China….reports Asian Lite News The Philippines is rapidly cementing
Go toTop

Don't Miss

Atul Keshap is new charge d’affaires in India

Keshap will replace former deputy secretary of state Daniel Smith,

Imran faces flak over Single National Curriculum

Some educationists have asked the government to review the curriculum….reports