US says closely evaluating Pakistan's plea for IMF bailout

WASHINGTON: The United States (US) has said it is closely examining Pakistan’s request for the International Monetary Fund (IMF) programme to address its economic challenges.

Speaking at a press briefing, US Department of State spokesperson Heather Nauret said: “So we understand that Pakistan has formally requested assistance from the International Monetary Fund.”

“In all cases, we examine that closely from all angles of it, including Pakistan’s debt position, in evaluating any type of loan program. This is something that we’ve been tracking fairly closely,” he added.

The spokesperson said the US Secretary of State had spoken about this a few months back. “I think part of the reason that Pakistan found itself in this situation is Chinese debt and the fact that there is debt that governments have incurred that they maybe thought wouldn’t be so tough to bail themselves out of, but has become increasingly tough.”

Yesterday, Federal Minister for Finance Asad Umer called on IMF chief Christine Lagarde to formally request the global body for providing financial assistance to cushion the sinking economy of Pakistan.

Governor State Bank Tariq Bajwa and other officials of Economy Division were present during the meeting.

IMF Chief also confirmed the news of meeting with the Minister and other Pakistani officials and said in a statement, “During the meeting, they requested financial assistance from the IMF to help address Pakistan’s economic challenges.”

Lagarde also informed that an IMF team will visit Islamabad in the coming weeks to initiate discussions for a possible IMF-supported economic program.