Answer to question about IK’s letter: IMF says won’t comment on developments

ISLAMABAD: The International Monetary Fund (IMF) is looking forward to working with the new government on policies to ensure macroeconomic stability and prosperity for all of Pakistan’s citizens.

This was stated by International Monetary Fund (IMF) Director Communication Julie Kozack, while addressing a press conference.

The Fund official stated that on January 11, the IMF Executive Board approved the first review of the Stand-By Arrangement, with Pakistan that brought total disbursements under the Stand-By Arrangement to $1.9 billion.

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The Stand-By Arrangement supports the authority’s efforts to stabilise the economy and to, of course, with a strong focus on protecting the most vulnerable. She further stated that during the period of the caretaker government, the authorities have maintained economic stability.

This has been done through strict adherence to fiscal targets while also protecting the social safety net. It has been done by maintaining a tight monetary policy stance to control inflation and to continue to build up foreign exchange reserves. “We look forward to working with the new government on policies to ensure macroeconomic stability and prosperity for all of Pakistan’s citizens”, she added.

A question was asked from the Fund official regarding former prime minister Imran Khan’s letter about alleged election rigging, to which the Fund official responded, “I’m not going to comment on ongoing political developments. So, I don’t have anything else to add to what I just said.”

Copyright Business Recorder, 2024