ISLAMABAD: Former Prime Minister Imran Khan’s party, Pakistan Tehreek-e-Insaf (PTI), has urged the International Monetary Fund (IMF) to consider the country’s political stability in any future bailout talks.
According to Reuters, PTI wrote a letter to the IMF in which it asked the global lender to factor in the country’s political stability in any further bailout talks.
Reuters reported that the letter to the IMF was confirmed by two senior party officials. However, specific details of the correspondence remain undisclosed, with assurances that further information will be revealed in due course.
This move comes following recent statements from Khan’s aides expressing a desire to push for an independent audit of Pakistan’s controversial February 8 elections before resuming negotiations with the IMF.
Financial analysts suggest that the impact of PTI’s letter on the market may be limited, as the IMF is anticipated to conduct its own thorough assessment.
Pakistan’s economy continues to face challenges such as high inflation, currency devaluation, and declining foreign reserves despite securing a $3 billion standby arrangement from the IMF last summer.
IMF Declines to Comment on PTI’s Letter
On February 24, the IMF declined to comment on Imran Khan’s letter requesting an audit of the recent General Elections. Julie Kozack, Director of Communications at the IMF, refrained from addressing ongoing political developments during a press briefing. She said that the IMF is willing to work with the new Pakistani government but did not provide further details regarding the PTI’s call for an election audit before continuing loan program discussions with Islamabad.
