US supports IMF loan program for Pakistan, says Yellen

WASHINGTON: United States (US) supports International Monetary Fund (IMF) program for Pakistan, said Finance Secretary Janet Yellen.

Pakistan’s economy is in turmoil amid financial woes and the delay in an agreement with the International Monetary Fund (IMF) that would release much-needed funding crucial to avoid the risk of default.

Addressing the committee of the House of Representatives, Janet Yellen said Pakistan is in need of a bailout package and Washington supports the revival of the IMF loan program for Pakistan.

The program to deal with the destruction caused by the floods is there. Meanwhile, Congressman Al Green also highlighted the devastation caused by the floods in Pakistan and urged the need for IMF and World Bank programs.

Meanwhile, Tahir Javed, a Pakistani-American Democrat leader, lauded the role of Congressman Al Green in Pak-US relations.

Earlier, Prime Minister (PM) Shehbaz Sharif expressed his optimism regarding Pakistan’s chances of striking a deal with the International Monetary Fund (IMF) this month, saying that the government has accepted all the global lender’s conditions and implemented them.

The prime minister made these remarks while addressing an inauguration ceremony of a Sports Complex in Lahore.