Pakistan responds back over US officials statement
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ISLAMABAD - Pakistan Finance Minister Asad Umar has rejected the statement issued by the US officials over reviewing Pakistan's debt position before IMF package.
He on Saturday dismissed US statement over reviewing Pakistan debt position before evaluating Islamabad's request for a loan from the International Monetary Fund (IMF).
Talking to reporters after returning from Indonesia, where he attended the annual meetings of the World Bank and IMF, Umar said the United States does not hold the power to veto decisions by the Fund.
The US is the largest contributor to the IMF and has 17.68 per cent of voting rights in major decisions. China is third, behind Japan, and controls 6.49pc of the vote.
The US had on Thursday said that it will examine closely Pakistan's request for an IMF loan, adding that “part of the reason that Pakistan found itself in this situation is Chinese debt”.
