USA-China rift
WASHINGTON/ISLAMABAD: The United States does not want Pakistan to choose between the USA and China.
The US State Department spokesman said, “Pakistan is not being pressured to pick any side. Relations with Islamabad are close people-to-people ties”.
Matthew Miller was questioned about Pakistan’s minister of state for foreign affairs, Hina Rabbani Khar’s statement that Pakistan had no intention to pick a fight in the global rivalry between Washington and Beijing.
China and US flags reminds the readers of the rivalry between the two countries.
“No, the United States does not ask Pakistan to choose between the United States and China,” the spokesperson said.
Additionally, the US spokesperson Miller said that relations with Pakistan are based on close people-to-people ties.
He further said, “The US will continue to seek ways to expand its partnership and economic ties with the South Asian nation.”
“Our economic cooperation with Pakistan reflects our vision for the region as one of — comprised of nations that are independent, strong, and prosperous. And our relationships are based on a spirit of respect and partnership.”
US welcomes Pak-IMF deal
Meanwhile, Miller welcomed the IMF deal with Pakistan for a $3 billion standby arrangement.
He said that the United States played a key role in helping Pakistan to secure the deal.
The IMF board meets today
Furthermore, the executive board of the International Monetary Fund will approve a $3 billion standby arrangement for Pakistan on Wednesday.
According to the PST, the IMF can share the decision of the board with the Finance Ministry today evening.
Moreover, after the IMF board’s approval, Pakistan will receive $1.1 billion next tranche from the IMF next week.
The IMF has referred the SBA with Pakistan to the board after signing a staff-level agreement a few days ago.
Value of dollar declines
Importantly, in the inter-bank and open market trading, the value of dollar has dropped to 277 rupees since Tuesday. Two good news _ $2 billion Saudi deposits and IMF’s board meeting today reversed the flight of the US dollar.
Earlier, the exchange rate was hovering above 282 rupees in the inter-bank and 285 rupees in the open market operations.
The executive board of the IMF is holding a crucial meeting today. The board will approve a $3 billion standby arrangement with Pakistan.
The IMF board is holding this meeting in the wake of the signing of a staff-level agreement between the IMF and Pakistan for the resumption of loans.
