US says supports Pakistan to break free from vicious cycle of debts

WASHINGTON: The United States has said that Washington supports Pakistan’s efforts to break free from the vicious cycle of debts, urging the incoming government in Islamabad to continue working with the International Monetary Fund (IMF) and other related institutions to ensure macroeconomic reforms in the country.

In his daily news briefing in Washington on Wednesday, US State Department spokesperson Matthew Miller said “We support Pakistan’s efforts to break free from the vicious cycle of debt and international financing. The long-term health of Pakistan’s economy is crucial to its stability.”

Miller further said “Pakistan’s new government must immediately prioritise the economic situation because the policies over the next several months will be crucial to maintain economic stability for Pakistanis. We urge Pakistan to continue working with the IMF and other international financial institutions towards macroeconomic reforms.”