WASHINGTON, Dec. 3 (UPI) -- A senior U.S. official welcomed Friday Pakistan's decision not to borrow more money from the International Monetary Fund.
"We congratulate the Pakistan government for its stewardship of the economy which has created an impressive turnaround since Pakistan entered the (IMF's lending program) three years ago," said the U.S. Treasury's under secretary for international affairs, John Taylor.
On Wednesday, the IMF announced that Pakistan had completed its ninth and final review of a $1.5 billion loan from which the country has drawn $1.31 billion. The Pakistani government said that it will not require the remaining sum in the loan, given that their economy was already on the right track without additional lending.
The IMF stated that it "welcomed the authorities' decision not to draw the final tranche, given Pakistan's improved economic situation."
"Foregoing the final tranche highlights Pakistan's increased economic strength and the confidence of its economic officials," Taylor said.
