According to diplomatic sources, the United States played a crucial role behind the scenes in helping Pakistan win a $3 billion rescue deal with the International Monetary Fund (IMF).
A $6 billion loan scheduled for release in 2019 was held up for eight months before the current staff-level agreement (SLA) was reached.
“The United States supported Pakistan throughout the process but also insisted that they implemented the reforms they agreed with the IMF,” the person added, speaking on condition of anonymity because of the sensitivity of the situation.
US and Pakistan had constant communication
This topic was discussed in at least two phone calls between Foreign Minister Bilawal Bhutto-Zardari and Secretary Antony Blinken, as reported by the aforementioned sources. The issue was also discussed in direct talks between the two heads of state.
The US Treasury and State Department remained in constant communication with the Pakistani embassy in Washington. They collaborated with Brent Nieman, the Treasury’s deputy undersecretary for international financial problems.
The embassy also met with a Pakistani delegation in the days leading up to the accord in an effort to win over influential US politicians including Senator Lindsey Graham.
However, progress was made when Prime Minister Shehbaz Sharif met with IMF Managing Director Kristalina Georgieva in Paris at the end of June and requested the release of the vital tranche of $1.1bn that had been withheld since November.
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