IMF Willing To Work With New Govt

IMF’s Director Communications also appreciated the interim setup, saying that during the caretaker government's tenure, the authorities have maintained economic stability

IMF Willing To Work With New Govt

The International Monetary Fund (IMF) has signaled its willingness to cooperate with the new Pakistani government that is due to be sworn in, despite Pakistan Tehreek-e-Insaf (PTI) founder Imran Khan's demand that the lender conduct an audit of the election results before authorising any fresh loan for Islamabad. 

"We look forward to working with the new government on policies to ensure macroeconomic stability and prosperity for all of Pakistan's citizens," said IMF's Director Communications Julie Kozack during a press briefing the other day.

Responding to questions about the completion of the $3 billion stand-by arrangement (SBA) the fund had signed with the Pakistan Democratic Movement-led (PDM) government, she stated that on January 11, the lender increased total disbursements under the Standby Arrangement (SBA) to $1.9 billion, adding that the programme is "supporting the authority's efforts to stabilise the economy and, of course, with a strong focus on protecting the most vulnerable." 

The official also praised the efforts of the interim government, stating that the authorities kept the economy stable.

"This has been accomplished by strictly adhering to fiscal targets while also protecting the social safety net." It has been accomplished by keeping a restrictive monetary policy stance to manage inflation and continuing to accumulate foreign exchange reserves," she stated.

When asked about former Prime Minister Imran Khan's call for an audit of election results, she responded, "I'm not going to comment on ongoing political developments." 

The IMF's remark came in reaction to the PTI's founding chairman's decision to submit a letter to the global lender demanding it conduct an audit of the February 8 election before continuing negotiations with Islamabad on a fresh loan program.

"Imran Khan will send a letter to the IMF today." The charters of the IMF, EU, and other institutions state that they can only function or offer loans to a nation provided there is effective governance," PTI leader's attorney, Barrister Ali Zafar, told the media at the Adiala Jail on Thursday.