KARACHI: Esther Pérez Ruiz, the International Monetary Fund (IMF) representative for Pakistan, on Wednesday termed the ongoing discussions with the Pakistani government on the ninth review of the $7 billion loan program “productive,” which would release around $1 billion to the cash-strapped South Asian nation.
Pakistan’s central bank reserves have depleted to $6.7 billion — barely enough for a month’s imports — as the country continues to grapple with a widening current account deficit, balance-of-payment crisis and currency depreciation.
The IMF review for the release of its next tranche of funding has been pending since September, leaving the South Asian nation desperately looking for external financing.
Pakistan’s finance minister Ishaq Dar said on Monday that Islamabad had already met all requirements for a review by the global lender.
“Discussions to date in the context of the 9th review have been productive, and have enabled a revision to the macroeconomic outlook post floods as well as an in-depth evaluation of fiscal, monetary, exchange rate, and energy policies adopted since the completion of the combined seventh and eight reviews,” Ruiz said in a statement to Arab News.
“The IMF looks forward to continue the dialogue over policies that adequately address the humanitarian and rehabilitation needs from the floods, while also preserving fiscal and external sustainability given available financing.”
The IMF approved seventh and eighth reviews together in August of Pakistan’s bailout program agreed in 2019, allowing the release of more than $1.1 billion.
Pakistan secured a $6 billion bailout program in 2019 that was topped up with a further $1 billion earlier this year.
Islamabad has also been approaching its allies, including Saudi Arabia, to seek financial support.
IMF says discussions with Pakistan ‘productive’ on ninth review of $7 billion program
https://arab.news/rfmkz
IMF says discussions with Pakistan ‘productive’ on ninth review of $7 billion program
- The IMF review is pending since September and has left Pakistan in dire need of external financing
- Islamabad has also been trying to approach allies, including Saudi Arabia, to seek financial support
US freezes visa processing for 75 countries, media reports Pakistan included
- State Department announces indefinite pause on immigrant visas starting Jan 21
- Move underscores Trump’s hard-line immigration push despite close Pakistan-US ties
ISLAMABAD: The United States will pause immigrant visa processing for applicants from 75 countries starting Jan. 21, the State Department said on Wednesday, with Fox News and other media outlets reporting that Pakistan is among the countries affected by the indefinite suspension.
The move comes as the Trump administration presses ahead with a broad immigration crackdown, with Pakistan included among the affected countries despite strong ongoing diplomatic engagement between Islamabad and Washington on economic cooperation, regional diplomacy and security matters.
Fox News, citing an internal State Department memo, said US embassies had been instructed to refuse immigrant visas under existing law while Washington reassesses screening and vetting procedures. The report said the pause would apply indefinitely and covers countries across Asia, Africa, the Middle East, Europe and Latin America.
“The State Department will pause immigrant visa processing from 75 countries whose migrants take welfare from the American people at unacceptable rates. The freeze will remain active until the US can ensure that new immigrants will not extract wealth from the American people,” the Department of State said in a post on X.
According to Fox News and Pakistan news outlets like Dawn, the list of affected countries includes Pakistan, Afghanistan, Bangladesh, Iran, Iraq, Egypt, Nigeria, Russia, Somalia, Brazil and Thailand, among others.
“The suspension could delay travel, study, and work plans for thousands of Pakistanis who annually seek US visas. Pakistani consulates in the US are expected to provide guidance to affected applicants in the coming days,” Dawn reported.
A State Department spokesman declined comment when Arab News reached out via email to confirm if Pakistan was on the list.
The Department has not publicly released the full list of countries or clarified which visa categories would be affected, nor has it provided a timeline for when processing could resume.
Trump has made immigration enforcement a central pillar of his agenda since returning to office last year, reviving and expanding the use of the “public charge” provision of US immigration law to restrict entry by migrants deemed likely to rely on public benefits.
During his previous term as president, Trump imposed sweeping travel restrictions on several Muslim-majority countries, a policy widely referred to as a “Muslim ban,” which was challenged in US courts before a revised version was upheld by the Supreme Court. That policy was later rescinded under the President Joe Biden administration.
The latest visa freeze marks a renewed hardening of US immigration policy, raising uncertainty for migrants from affected countries as Washington reassesses its screening and vetting procedures.
The freeze on visas comes amid an intensifying crackdown on immigration enforcement by the Trump administration. In Minneapolis last week, a US Immigration and Customs Enforcement (ICE) agent shot and killed 37-year-old Renee Good, a US citizen, during a federal operation, an incident that has drawn nationwide protests and scrutiny of ICE tactics. Family members and local officials have challenged the federal account of the shooting, even as Department of Homeland Security officials defended the agent’s actions. The case has prompted resignations by federal prosecutors and heightened debate over the conduct of immigration enforcement under the current administration.
