PM Shehbaz, US envoy discuss Washington’s support on economic reforms through IMF | Maqvi News

• PM, US envoy discuss broad range of biletaral issues: US mission spox.
• Trade, climate change, private sector-led economic growth also discussed.
• Both sides agree on making progress on US-Pakistan Green Alliance framework.

ISLAMABAD: As new government started efforts to get a new loan to end its economic woes, Prime Minister Shehbaz Sharif and US Ambassador to Pakistan Donald Blome held a meeting in which they discussed the economic reforms through the International Monetary Fund (IMF) alongside other key issues.

Envoy Blome called on PM Shehbaz on Friday to discuss a broad range of bilateral issues, including partnering with the newly-formed government on regional security, Acting US Mission Spokesperson Thomas Montgomery said in a statement.

The meeting came at a time when Islamabad entered into negotiation phase with the global lender for the final review meeting on the $3 billion stand-by agreement (SBA). The IMF will release a final tranche of around $1.1 billion to Pakistan if negotiations went successful.

Subsequently, they also discussed “US support for continued economic reforms with and through the IMF, trade and investment, education, climate change, and private sector-led economic growth, Montgomery added.

The US envoy also expressed Washington’s support for Pakistan’s democracy and the key role of an independent press.

Both sides also discussed how both countries can work together to accelerate projects addressing climate change under the US-Pakistan Green Alliance framework.

Earlier, Pakistan “expressed its intention” for a fresh loan from the IMF as the two sides began the final review meeting, Geo News reported citing sources. The programme secured by Islamabad under a last-gasp rescue package last summer helped the country to avert a sovereign debt default.

After assuming charge, new Finance Minister Muhammad Aurangzeb shared that the government would engage with the Washington-based lender for a “large and long programme” under the Extended Fund Facility (EFF), while elaborating on his plan for economic stabilisation.

Prior to the negotiations with the IMF, He detailed that all options, including the augmentation of the IMF programme through climate financing and jacking up the size of allocated quota under the EFF programme, will be explored during the upcoming negotiations with the Fund’s review mission.