The US State Department has urged Pakistan to \u201ccontinue working\u201d with the International Monetary Fund (IMF), especially on reforms that will improve the country\u2019s business environment, highlighting that it would help Pakistan attract \u201chigh-quality investment\u201d.
\nState Department spokesperson Ned Price made the remarks in response to a query at a weekly press briefing on Wednesday.
\n\u201cWe encourage Pakistan to continue working with the IMF, especially on reforms that will improve Pakistan\u2019s business environment. We believe that doing so \u2014 and the IMF believes this \u2014 will make Pakistani business more competitive [and] will also help Pakistan attract high-quality investment,\u201d he said.
\nPrice\u2019s advice comes at a time when the government is striving to implement measures demanded by the IMF in order to complete its $7bn Extended Fund Facility programme as the country\u2019s reserves are barely enough for three weeks of essential imports.
\nAmid continuous assurances from Finance Minister Ishaq Dar that the staff-level agreement is \u201cabout to conclude\u201d, the international lender has required Pakistan, as a last step, to guarantee that its balance of payments deficit is fully financed for the remaining period of an IMF programme.
\nResponding to a query during the briefing if the US was worried about Pakistan\u2019s current situation as it faced major economic issues, political challenges and a rise in terror attacks, Price reiterated US support for Pakistan through \u201ceconomic partnership that has existed with the US over the course of decades now\u201d.
\nHe said that Pakistan was working with \u201cinternational financial institutions \u2014 the IMF \u2014 to put itself on a sustainable growth path\u201d.
\n\u201cThe United States is ready and able to continue to be a partner to the people of Pakistan and to our Pakistani counterparts as well,\u201d he added.
\nIn response to a question about if the US was not using its \u201cfriendly influence\u201d that it had at the IMF to help Pakistan secure the deal, the spokesperson said: \u201cUltimately, it\u2019s going to have to be decisions on the part of our Pakistani counterparts to unlock this IMF funding.\u201d
\nEncouraging Pakistan to continue working with the money lender, Price highlighted that the technologies, market connections and management systems that accompany the deal were of more value than the \u201cpotential investment dollars\u201d.
\n\u201cThey improve the competitiveness of partnering Pakistani firms, fueling economic growth that increases employment and household incomes,\u201d he added.
\nThe state department official asserted that it believed Pakistan could put itself on a path to sustainable growth by \u201ccontinuing to make the necessary economic decisions\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"
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