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Pakistan

In letter to IMF, PTI urges lender to consider Pakistan’s ‘political instability’ in talks: report

  • Pakistan is currently enrolled in a $3-billion Stand-By Arrangement with the IMF with one review pending
Published February 28, 2024

The party of Pakistan’s jailed former prime minister, Imran Khan, has asked the International Monetary Fund (IMF) to factor in the country’s “political instability” in any further bailout talks, two people familiar with the matter said on Wednesday, reported Reuters.

The Pakistan Tehreek-e-Insaf (PTI) has sent the letter to the IMF detailing its position, two senior sources in the party reportedly said, adding more details would be made public in due course.

The IMF didn’t respond to an email for a comment on the letter, but has already addressed the issue during a press briefing by Julie Kozack, the IMF’s Director of Strategic Communications, last week.

During the briefing, the IMF official had stated that the lender looks forward “to working with the new government” of Pakistan, refraining from commenting on former prime minister Imran Khan’s intent to write a letter to the lender over alleged rigging in the elections.

The remarks came after Ali Zafar, Imran Khan’s lawyer, had told reporters last week that the former prime minister will write to the IMF urging it to call for an independent audit of the country’s controversial February 8 national elections before it continues talks with Islamabad.

Later, the party toned down its stance, saying that Pakistan should continue to engage with the IMF in order to ensure financial discipline, good governance and economic stability, which is critical for the prosperity of the people of Pakistan.

Pakistan is currently enrolled in a $3-billion Stand-By Arrangement (SBA) with the IMF with one final review pending. The programme is expected to be completed in March.

However, it was also reported that Pakistan plans to seek a new loan of at least $6 billion from the Fund to help the incoming government repay billions in debt due this year.

Comments

200 characters
Pakistani1 Feb 28, 2024 09:23pm
One starts to doubt the actual loyalty of PTI. Are they for Pakistan or are they for being in power themselves.
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Notsurprised Feb 28, 2024 09:25pm
Niazi is a traitor and a plant of the zionists. His actions as a politician have shown this over and over, but his social media team expertly presents him as a saviour
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Pakistani1 Feb 28, 2024 09:32pm
I can understand the burning desire of PTI leadership to get back in power by any means, I cannot understand the followers inability to draw a line between benefit of Pakistan and of the party?
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KhanRA Feb 28, 2024 09:54pm
Whoa. Is PTI trying to destroy the economy in order to make a political point?? This is extremely dangerous. Without the loans, Pakistan’s economy will default and collapse. Very cynical move.
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