US says it supports Pak efforts to break free from debt cycle

WASHINGTON: The US has urged Islamabad to continue working with the IMF and other related institutions to ensure macro economic reforms in the country.

“We support Pakistan’s efforts to break free from the vicious cycle of debt and international financing,” the State Department spokesperson Matthew Miller said on Wednesday.“The long-term health of Pakistan’s economy is crucial to its stability,” he said responding to a question during the daily briefing.

The Pakistan Tehreek-e-Insaf’s founder Imran Khan had written a letter to the IMF asking it to focus on political stability in new bailout talks. Contrary to his wishes in that letter, the IMF has already declined to get itself involved in such theatrics.

Last week, the IMF spokesperson Julie Kozack said that the Fund was ready to work with Pakistan’s new government on policies to ensure macroeconomic stability and prosperity for all of Pakistan’s citizens.

The State Department spokesperson emphasized on the very point as well saying, “Pakistan’s new government must immediately prioritise the economic situation because the policies over the next several months will be crucial to maintain economic stability for Pakistanis.”

He added, “We urge Pakistan to continue working with the IMF and other international financial institutions towards macro economic reforms.”