US envoy hopeful about IMF package in a couple of days

ISLAMABAD: The US ambassador to Pakistan has indicated that the bailout package of the International Monetary Fund (IMF) with Pakistan would get in final shape in a couple of days.

He said: “The United States is ready to cooperate with Pakistan to help on the issue.” Talking to the media at a function on Tuesday, Ambassador Donald Blome said he expected that matters between Pakistan and the global lender would be “settled in a few days”. He said Washington fully supported Pakistan in its efforts to resume a stalled $6.5 billion bailout programme from the IMF. He reminded that the United States wished for a deal between Pakistan and the IMF and that it was ready to cooperate with Pakistan to help on the issue. He expressed Washington’s willingness to help Pakistan with the ongoing challenge of terrorism.

The ambassador, who has visited important cities of the country recently and had meetings with groups belonging to different shades of life, said there had been significant progress in diplomatic relations between the two countries. The IMF and Pakistan have been in talks over a stalled bailout package since late last year, with Pakistan seeking a $1.1bn tranche to address its worsening balance of payments crisis that would also pave the way for friendly affluent capitals to provide assistance to Pakistan to overcome ongoing financial complexities. Pakistan and the IMF are engaged in negotiations to reach a mutually agreeable package that would help Pakistan come out of the ongoing economic turmoil.

Interestingly, Finance Minister Ishaq Dar said last week that Pakistan would strike a staff-level agreement (SLA) with the IMF in a few days, as the government remained committed to completing the $6.5b loan programme.