US to evaluate Pakistan's bailout request on merit

The spokesperson was responding to a question on the request made by Pakistan for a USD 8 bailout package.

View in App
Agencies
In July, Secretary of State Mike Pompeo had indicated that the US will review the bailout package in view of the massive Chinese debt on Pakistan.
WASHINGTON: The US will evaluate on merit a bailout package sought by Pakistan from the International Monetary Fund, the State Department said Thursday.

"We understand that Pakistan has formally requested assistance from the IMF. As we do in all cases, we will examine closely all aspects, including Pakistan's debt position, in evaluating any loan program," a State Department Spokesperson told PTI.

The spokesperson was responding to a question on the request made by Pakistan for a USD 8 bailout package. The spokesperson's comments came on a day when Pakistan's Finance Minister Asad Umar met with IMF Managing Director Christine Lagarde in Nusa Dua, Indonesia and formally sought a bailout from the global lender.


The US has the greatest influence in the IMF's decision-making process.

In July, Secretary of State Mike Pompeo had indicated that the US will review the bailout package in view of the massive Chinese debt on Pakistan.

"Make no mistake. We will be watching what the IMF does," Pompeo said. "There's no rationale for IMF tax dollars, and associated with that American dollars that are part of the IMF funding, for those to go to bail out Chinese bondholders or China itself," Pompeo had told CNBC.
Download
The Economic Times Business News App
for Live Elections News & Results, Latest News in Business, Share Market & More.
Download
The Economic Times Business News App
for Live Elections News & Results, Latest News in Business, Share Market & More.
READ MORE
ADVERTISEMENT

READ MORE:

Sentiment Tracker

    You can select any three only
      Thank you for your responseThank you for your response

      LOGIN & CLAIM

      50 TIMESPOINTS

      ET Business Listings
      Generate Enquiries for your Business by Listing on Economictimes.com

      More from our Partners

      Loading next story
      Text Size:AAA
      Success
      This article has been saved

      *

      +