After the debt-laden Pakistan received the first tranche of $1.2 billion by the International Monetary Fund, US Secretary of State Antony Blinken praised the move and said that the US stands with the people of Pakistan.
The International Monetary Fund deposited the much-awaited first installment of $1.2 billion in State Bank of Pakistan as per its $3 million dollar bailout deal on Thursday. The deal will help Islamabad avoid defaulting on its debt repayments.
In a tweet uploaded on Thursday, Secretary Blinken urged Pakistan to continue working with IMF toward macroeconomic reforms and sustainable economic recovery.
“We stand by the Pakistani people during these hard times and welcome the International Monetary Fund’s approval of a program to support Pakistan. We urge Pakistan to continue working with @IMFNews,” said US Secretary of State Antony Blinken on Thursday.
The financial infusion — part of a $3 billion new bailout deal — comes ahead of parliamentary elections due later this year.—INP
