As Pakistan faces the risk of debt default due to depleting foreign reserves, Chief of Army Staff General Qamar Javed Bajwa has pleaded with Washington to assist Islamabad in securing an early disbursement of $1.2 billion in funds under an International Monetary Fund loan programme.
On the condition of anonymity because they were not authorised to speak publicly, sources from the US and Pakistan said that the army chief called US Deputy Secretary of State Wendy Sherman earlier in the week.
At the staff level, Pakistan and the IMF agreed to release the funds to support the country’s fragile economy. A $1.2 billion disbursement, which is anticipated for August, will be made possible by the staff-level agreement.
