Pakistan has asked the US for assistance in reviving the IMF program to accommodate a soft landing for its economy, which has been negatively impacted by exogenous problems like floods and unfavourable global economic conditions.
In a meeting on Wednesday, Finance Minister Ishaq Dar requested assistance from a visiting US delegation to persuade the plurilateral lender in Washington to be accommodating toward Pakistan in rebuilding the program while taking into account the difficulties brought on by floods and other external factors.
Robert Kaproth, Deputy Assistant Secretary of the Department of the Treasury, served as the delegation’s leader.
To put the country on a journey to stabilization through reforms, Dar assured the delegation that Pakistan would uphold all of its international obligations and was currently taking very tough decisions, such as raising the price of electricity and natural gas, among other actions that went even beyond the call of the IMF.
He continued by saying that Pakistan needed some breathing room because the country’s agriculture and industry had experienced extremely difficult times following the devastation of the floods.
Whereas, the statement by US officials assured support and cooperation to Pakistan.
“Despite challenging economic conditions, the government is focusing on fixing things in the right direction and introducing reforms in all sectors, including the energy sector and capital market, to achieve economic growth and development,” the statment added.
