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

Pakistan in the Dark: Power Crisis Boils Over

Regular power outages are a fact of life in Pakistan, but recent developments suggest that the situation is escalating to new extremes….writes Nasir Khattak In early January 2025, a nerve-breaking power outage

Modi, MBZ talk big ties

The call reaffirmed their keenness to “strengthen relations in line with their shared vision to leverage opportunities and deepen strategic cooperation.”…reports Asian Lite News In a significant diplomatic engagement, Prime Minister Narendra

It’s Official: Trump Slaps 25% Tariff on India

Trump issues executive order formalising India’s tariff at 25 pc…reports Asian Lite News New York, Aug 1 (IANS) As the deadline for tariffs neared, US President Donald Trump imposed the threatened tariff

Balochistan not for sale, Trump told

Mir Yar Baloch asserted that Trump’s recognition of the oil and mineral reserves in the region is “indeed accurate.”…reports Asian Lite News Just after US President Donald Trump announced to help Pakistan
Go toTop

Don't Miss

Pakistan’s inflation climbs to 24.9% in July

In a bid to control surging inflation in the country,

Blinken discusses Afghanistan situation with Jaishankar

Earlier on Monday, US Secretary of State Antony Blinken spoke