Pakistan assures US of complete implementation of IMF programme

ISLAMABAD: While extending thanks to the United States for playing its role in convincing the International Monetary Fund (IMF) for getting a $3 billion Standby Arrangement (SBA), Pakistan has assured the USA of complete implementation of the Fund’s programme.

There would be no problem with the external account during the tenure of the caretaker setup. Economic teams at bureaucratic and technocratic levels as well as in the State Bank of Pakistan would continue in the caretaker setup.

The government has secured the IMF programme and created a buffer making it possible for the caretaker setup to run the economy in a smooth manner.

According to a statement by the Ministry of Finance, US Department of Treasury Deputy Under Secretary Brent Neiman along with US Ambassador to Pakistan Donald Blome called on Federal Minister for Finance and Revenue Ishaq Dar at the Finance Division on Tuesday.

Dar warmly greeted Neiman and highlighted the deep-rooted historic and durable bilateral relations with the US on economic and trade fronts. He thanked the US administration and the US Department of Treasury for their role in the conclusion of an agreement with the IMF. The finance minister also apprised the visiting dignitaries of the economic policies and programmes taken by the government in order to set the economy from stability to growth. He further updated the US delegation on the talks held with the IMF and informed them of the government’s firm commitment to complete the SBA. Neiman appreciated the steps taken by the government in implementing timely reforms in the fiscal as well as monetary policy. He further stressed the continuity of these actions and policies in order to keep Pakistan on a positive economic trajectory. The under-secretary also highlighted the importance of economic and trade relations between the US and Pakistan. He added that Pakistan has been a significant partner of the US global ties. He also appreciated the export potential of Pakistan and expressed the US desire to further strengthen ties with Pakistan, especially in trade and finance.

The finance minister appreciated the support and cooperation of Washington and reiterated the desire of the government to further deepen bilateral economic and trade ties with the US.