US Supports Pakistan’s Economic Recovery and Counter-Terrorism Efforts
US Assistant Secretary of State for South and Central Asian Affairs, Donald Lu, has expressed strong backing for Pakistan’s ongoing economic recovery and counter-terrorism initiatives, reinforcing America’s commitment to the country’s success.
In a statement following his meeting with Finance Minister Muhammad Aurangzeb, Lu highlighted the close collaboration between the US, the Pakistan Army, and the government in combating terrorism, commending the significant strides Pakistan is making to revitalize its economy. “America wants Pakistan to succeed,” he affirmed.
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Lu remarked on Pakistan’s economic recovery as a promising development, stating, “We are very encouraged by the economic recovery that Pakistan is going through. This recovery is beneficial for every Pakistani.” He emphasized that the reforms being implemented are crucial for Pakistan’s future.
The meeting provided an opportunity to discuss Pakistan’s ambitious economic plans and reform strategies aimed at achieving long-term stability. “These reforms are not easy, but they are the future of Pakistan,” Lu emphasized.
Moreover, he pointed out that these economic reforms are essential for the nation’s financial stability and growth, with the US eager to support these efforts.
In related news, on Wednesday night, the International Monetary Fund (IMF) Executive Board approved a $7 billion loan for Pakistan under the Expanded Fund Facility (EFF), with nearly $1 billion being released immediately to help address economic challenges and restore macroeconomic stability.
The IMF noted that Pakistan’s economic growth rate reached a modest 2.4% in the last fiscal year, with inflation significantly reduced to single digits. This improvement was largely attributed to advancements in the agricultural sector and effective fiscal and monetary policies, which helped maintain the country’s current account deficit and bolster foreign exchange reserves. The decrease in inflation reflects a positive shift in both internal and external conditions.
