HomeNewsBlinken Welcomes IMF decision for Pakistan

Blinken Welcomes IMF decision for Pakistan


Washington D.C., 13 July 2023 (TDI): US Secretary of State Anthony Blinken welcomes the decision made by the International Monetary Fund(IMF) to start a recovery Program for the almost defaulting Pakistan.

He urges Pakistan to work for macroeconomic reforms and sustainable economic recovery in the near future.

Also Read: IMF approves US$3 Billion Stand-By Agreement for Pakistan

Decision made by IMF

The International Monetary Fund (IMF) has granted a 9-month Stand-By Arrangement (SBA) for Pakistan in the sum of about $3 billion to assist the government’s economic stabilization program.

Pakistan’s economic reform program intends to assist urgent measures to stabilize the economy and protect it from unexpected events, while also making room for social and development expenditures to benefit the Pakistani people.

Consistent policy execution will be important for Pakistan and the program’s success.

This will need more fiscal discipline, a market-determined exchange rate to absorb external pressures, and continued progress on the energy sector, climate resilience, and business climate reforms.

Bilateral Relations

Following Pakistan’s independence in 1947, the US maintained diplomatic ties with the country.

The US collaborates closely with Pakistan on a wide range of topics, including energy, commerce and investment, health, sustainable energy, and combatting climate change, as well as Afghanistan stabilization and counterterrorism.

The United States has been one of Pakistan’s greatest sources of foreign direct investment and remains the country’s largest export market.

Trade and investment relations between the United States and Pakistan continue to strengthen.

Moreover, the United States government supports this relationship by organizing business-to-business trade delegations, providing technical assistance, and promoting business opportunities for U.S. companies interested in developing US-Pakistan commercial partnerships.

Furthermore, the US has committed more than 77 million COVID-19 vaccine doses to Pakistan, including 16 million pediatric vaccinations pledged recently in Washington, and has cooperated with Pakistani institutions to improve detection and treatment capacity throughout the epidemic.

Meanwhile, Pakistan has been a key participant in promoting educational possibilities through the world’s biggest Fulbright program for more than 70 years.

In terms of combating terrorism and internal security, Pakistan has taken certain steps against militant groups and UN-designated terrorist organizations in line with its National Action Plan.



Iraq celebrates its 91st Independence Day

Baghdad, 3 October 2023 (TDI):  Iraq celebrated its 91st Independence Day on October 3rd, marking the nation's liberation from British colonial rule in 1932. This...

Hunger Emergency looms for South Sudan

Juba, 3 October 2023 (TDI): In a dire warning today, the World Food Programme (WFP) has highlighted an impending hunger emergency along the South Sudan-Sudan...

Bangladesh, Brazil Foreign Office hold political consultations

Brasília, 3 October 2023 (TDI): The 2nd Foreign Office Consultation of Brazil and Bangladesh was held in Brasília on October 2, to discuss the bilateral...

UN Mission assesses urgent humanitarian needs in Karabakh

Baku, 3 October 2023 (TDI): On Sunday, October 1st, a delegation from the United Nations (UN), under the guidance of Vladanka Andreeva, UN Resident Coordinator...

Follow us


Most Popular