US wants to see Pakistan in 'economically sustainable position'

WASHINGTON: The US State Department Wednesday said that they want to see Pakistan in an “economically sustainable position”.

State Department Spokesperson Ned Price expressed these views during a press briefing.

“This is a challenge that we are attuned to. I know that Pakistan has been working with the IMF and other international financial institutions. We want to see Pakistan in an economically sustainable position,” Ned Price said while commenting on the economic difficulties confronting Pakistan.

“Those conversations, as I understand it, are ongoing. We are supportive where we can be of our Pakistani partners, but ultimately these are conversations between Pakistan and international financial institutions,” he added.

He said that Pakistan’s macroeconomic stability was a topic of conversation between the Department of State and their counterparts, the White House, and the Treasury Department, among others.

This came as Pakistan’s foreign exchange reserve dropped to USD 4.3 billion last week.

It is pertinent to mention here that the talks between Pakistan and International Monetary Fund (IMF) in Geneva have remained ‘inconclusive’.

Sources told ARY News that Governor State Bank of Pakistan (SBP) was also not present during the meeting, that took place in Geneva on the sidelines of International Conference on Climate Resilient Pakistan

Earlier on January 7, Prime Minister (PM) Shehbaz Sharif held a telephonic conversation with Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva.

During the conversation, the prime minister reiterated his government’s resolve to complete the terms of Fund’s programme.

In December 2022, it was reported that Pakistan government hopes to revive the deal with the International Monetary Fund (IMF) for the disbursement of a loan tranche under the $7 billion bailout package in the month of January.