ISLAMABAD: Finance Minister Ishaq Dar is reported to have reached out to the United States (US) ambassador, Donald Blome, to ask for help in negotiating a deal with the International Monetary Fund (IMF).
According to media reports, during the meeting, Dar updated the ambassador on Pakistan’s current economic situation and discussed obstacles to staff-level interest with the IMF. The two sides also discussed bilateral relations between Pakistan and the US.
Dar also informed the ambassador that Saudi Arabia has confirmed financing of $2 billion to Pakistan and that discussions are underway with the United Arab Emirates. The US ambassador reportedly assured the finance minister of increasing bilateral cooperation and support for the IMF deal.
The development came after Islamabad had been in talks with the IMF since January 2023 to release $1.1 billion from a $6.5 billion bailout package that was agreed upon in 2019. With Saudi Arabia’s confirmation of additional deposits, it is now expected that Pakistan will be able to secure the release of the funds it needs to stabilize its economy.
Sources in Islamabad believe that the current move by s finance minister highlights the country’s efforts to seek international assistance in tackling its economic challenges.
The US and other countries have an important role to play in supporting Pakistan’s efforts to stabilize its economy and promote sustainable growth.
