Sunday, June 16, 2024

US wants Pakistan to be ‘economically sustainable’

Immigration News

Fidel Rahmati
Fidel Rahmati
Fidai Rahmati is the editor and content writer for Khaama Press. You may follow him at Twitter @FidelRahmati
US State Department Spokesperson Ned Price speaks during a press briefing on Wednesday.

The United States wants to see Pakistan in an ‘economically sustainable’ position, US State Department spokesperson Ned Price said during a press briefing on Wednesday.

During the press briefing, Ned Price was asked to share his view about Pakistan’s economy as the country has less than $5 billion left in its foreign exchange reserves. He answered that this is a challenge the US was attuned to, and they know that Pakistan has been working with the International Monetary Fund (IMF) and International financial institutions.

He added, “We want to see Pakistan in an economically sustainable position”. We are supportive where we can be of our Pakistani partners, but the ultimate conversations were between Pakistan and the international financial institutions.

He was also asked about any suggestions for the Pakistan government to take some immediate steps to improve the country’s economy.

He replied, “These conversations with our Pakistani partners often entail technical issues. Often these are addressed between the Department of the Treasury and our Pakistani partners.”

He continued by saying that the macroeconomic stability of Pakistan was a topic of conversation between the Department of State and their counterparts, the White House, the Treasury Department, and others.

Pakistan is in a severe financial crisis. the country must repay more than $13 billion in foreign debt between January and June 2023. the government must work hard to revive the International Monetary Fund (IMF) loan program.

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