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.
During the meeting, the premier expressed satisfaction on the present state of bilateral relations between Pakistan and the United States, according to Prime Minister’s Office (PMO).
He emphasised the need to maintain the positive momentum by regular convening of existing dialogue mechanisms, focused on trade, investment, energy, health, defence, education, agriculture and climate change.
Premier Shehbaz said that his government would focus on macro-economic reforms to stabilise the economy and attract foreign investment.
In this regard, he also highlighted the role of the Special Investment Facilitation Council (SIFC) that has been established to fast-track foreign investments in priority sectors in Pakistan.
A number of issues of bilateral and regional significance were also discussed during the meeting, including the situation in Gaza and the Red Sea, developments in Afghanistan, as well as the case of Dr Aafia Siddiqui, which was raised forcefully by PM Shehbaz.
While congratulating the prime minister on his re-election, Blome said that the US considered Pakistan an important partner and hoped to work with the government to build stronger ties between the two countries, it concluded.
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.
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.
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.
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 said 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 Washington-based lender, 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 IMF review mission.
