NEW YORK: The International Monetary Fund (IMF) has expressed willingness to work with the new Pakistani government and ignored Pakistan Tehreek-e-Insaf founder’s demand to hold an audit of the poll results before approving any new loan for the South Asian country.
Addressing a media briefing, IMF’s Director Communications Julie Kozack said that on January 11, the lender brought total disbursements under the Standby Arrangement to 1.9 billion dollars. The programme was supporting the authority’s efforts to stabilize the economy, with a strong focus on protecting the most vulnerable segments.
She also appreciated the caretaker government, saying during the interim setup’s tenure, the authorities maintained economic stability in the country.
Julie said that this has been done through strict adherence to financial targets while also protecting the social safety net. It has been done by maintaining a tight monetary policy stance to continue to build up foreign exchange reserves and control inflation.
She said that the IMF was looking forward to working with the new government on policies to ensure macroeconomic stability and prosperity for all citizens of Pakistan.
When asked to comment on the ex-prime minister’s demand for an audit of election results, Julie said that she was not going to comment on political developments in the country.
Pakistan Seeks New loan
Meanwhile, Pakistani authorities are reportedly planning to seek a new loan of at least 6 billion dollars from the IMF to help the incoming government repay billions in debt due this year. Pakistan will seek to negotiate an Extended Fund Facility with the Washington-based lender. The talks are likely to start in March or April.
