WASHINGTON: There is no quick remedy for Pakistan’s economic issues, but Elizabeth Horst, principal deputy assistant secretary of state for South and Central Asia, believes that adhering to the agreement Pakistan has made with the International Monetary Fund (IMF) can help it get through the crisis.
“We support the arrangement. It provides a breathing space” to Pakistan, Ms Horst said in a conversation with Washington-based Pakistani journalists on Friday.
“Pakistan should continue to work with the IMF,” said the US official who heads the State Department’s Pakistan bureau. “There’s no quick fix but there’s a fix.” Ms Horst acknowledged that the coming days would be very tough for the people of Pakistan, but they have to go through this difficult phase to improve the economy.
She reassured Pakistanis that the United States and their country “have an enduring partnership,” which will be unaffected by the current political climate.
She claimed that although the Pakistani government had promised to hold elections soon, the United States had no favourites in the country.
“It’s for the Pakistani people to decide who they want to elect. We do not support one party against the other. We support the rule of law and democracy in Pakistan,” she said.
She claimed that in 2022, commerce between the US and Pakistan amounted to $9 billion, becoming the US Pakistan’s largest trading partner.
She also offered some data, demonstrating that US businesses employed 120,000 Pakistanis, invested $250 million in Pakistan in 2022, and contributed $215 million towards disaster relief. The $33 million that Pakistani Americans sent is not included in this.
