WASHINGTON :UNS: US Treasury Secretary Janet Yellen on Tuesday said that the US supports the International Monetary Fund (IMF) programme for Pakistan.
Treasury Secretary Janet Yellen expressed these views in the House of Representatives when Congressman All Green demanded the US government to play a role to help Pakistan in the revival of the IMF programme.
Speaking in the House of Representatives, Congressman All Green said that Pakistan is already affected by floods and added that the US can deny global warming but Pakistan is suffering from its effects.
He further said that Pakistan is in dire need of revival of the IMF programme at this time.
Pakistan and the IMF deal
Currently, the debt-trapped Pakistan government is in a race against time to implement measures to reach an agreement with the International Monetary Fund (IMF) as the country reportedly has reserves barely enough for over one month of essential imports.
The agreement with the IMF on the completion of the ninth review of a USD 7 billion loan Extended Fund Facility programme — which has been delayed since late last year over a policy framework — would not only lead to a disbursement of 1.2 billion but also unlock inflows from friendly countries.
The financial body even announced that it will temporarily increase funding limits for member nations to help them overcome current financial challenges, at the same time, it is still locked over an unfinished loan programme required for the ongoing economic crisis in Pakistan.
