According to a statement from the Senate chairman’s office, US Ambassador to Pakistan Donald Blome expressed optimism on Wednesday regarding the ongoing negotiations between Pakistan and the International Monetary Fund, noting that positive feedback from the Fund would bolster investor confidence.
The IMF’s executive board is scheduled to convene on April 29 to discuss the approval of $1.1 billion in funding for Pakistan, announced the Fund today. This funding represents the second and final tranche of a $3 billion standby arrangement with the IMF, which Pakistan secured last summer to prevent a sovereign default. This arrangement is set to expire this month.
Meanwhile, Finance Minister Muhammad Aurangzeb recently affirmed that Pakistan is progressing toward securing a new loan from the IMF, highlighting that the lender has been receptive to considering a larger, longer-term program.
Blome visited Senate Chairman Yousuf Raza Gilani at the Parliament House today for a “constructive dialogue aimed at strengthening bilateral relations and advancing mutual interests.”
“Ambassador Blome lauded the efforts of Pakistan’s new economic team and expressed confidence in the ongoing discussions between Pakistan and the IMF. He commended the Pakistan economic team’s endeavors and underscored the potential for deeper economic collaboration between Pakistan and the US.
“Highlighting Pakistan’s positive economic indicators, Blome noted the downward trajectory of inflation and the robust dollar reserves, anticipating that favorable feedback from the IMF would bolster investor confidence,” a statement from the X account of the Senate chairman’s office reported.
In reference to the significant economic partnership between the two nations, Gilani highlighted the United States as Pakistan’s largest trading partner and extended gratitude to the US government for its cooperation across various sectors.
He stressed the importance of enhancing trade links and increasing trade volume between Pakistan and the US.
Blome also drew attention to the burgeoning gaming industry in Pakistan and called for heightened cooperation in the digital sector.
The ambassador extended his congratulations to Gilani on his election as the Senate chairman and conveyed his best wishes. Various aspects of the enduring friendship between Pakistan and the US were thoroughly discussed during the meeting.
“Expressing Pakistan’s steadfast determination to bolster longstanding friendly relations with the US, Gilani emphasized the significance of further advancing parliamentary ties between the two nations,” the statement outlined. It noted that the Senate chairman underscored the pivotal role that parliamentary exchanges could play in enhancing public and legislative engagement.
Gilani highlighted the presence of a robust parliamentary caucus in the US Congress dedicated to fostering bilateral relations. He mentioned ongoing efforts to reconstitute the friendship group following the Senate polls. “This initiative would facilitate the advancement of mutually beneficial ties and provide an opportunity for parliamentary diplomacy to forge robust people-to-people connections,” the statement elucidated.
Additionally, Gilani underscored the challenges encountered by Pakistani students and businessmen in acquiring US visas, emphasizing the necessity to streamline the visa application process further.
Meanwhile, Ambassador Blome acknowledged Pakistan’s anti-terrorism endeavors and reiterated US support in the fight against terrorism.
The Senate chairman emphasized the urgency of accelerating efforts to establish peace in Palestine and advocated for an immediate ceasefire in Gaza to pave the way for lasting peace in the region. Ambassador Blome concurred with Gilani’s perspective, according to the statement.
The meeting highlighted the shared commitment of Pakistan and the United States to fostering peace, stability, and cooperation in the region.
