ISLAMABAD – Pakistan Finance Minister Asad Umar has rejected the statementissued by the US officials over reviewing Pakistan’s debt position beforeIMF package.
He on Saturday dismissed US statement over reviewing Pakistan debtposition before evaluating Islamabad’s request for a loan from theInternational Monetary Fund (IMF).
Talking to reporters after returning from Indonesia, where he attended theannual meetings of the World Bank and IMF, Umar said the United States doesnot hold the power to veto decisions by the Fund.
The US is the largest contributor to the IMF and has 17.68 per cent ofvoting rights in major decisions. China is third, behind Japan, andcontrols 6.49pc of the vote.
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The US had on Thursday said that it will examine closely Pakistan’s requestfor an IMF loan, adding that “part of the reason that Pakistan found itselfin this situation is Chinese debt”.
