ISLAMABAD – Pakistan Tehreek-e-Insaf (PTI) approached International Monetary Fund (IMF), urging the world lender to audit the February 8 election results, and now IMF responded to Imran Khan’s party, citing lack of authority for the demand.
The international institution turned down request of leading political party, calling politics as an internal matter and saying it lacks the authority to intervene.
IMF distanced itself from involvement in Pakistan’s domestic political issues, but remains optimistic about working with the newly elected government to finalize the second review of the current Stand-by Arrangement.
The global lender is also prepared to assist in developing a new medium-term economic program if requested.
Beleagured PTI earlier sent a letter to the IMF to recently held controversial election seats and to consider the country’s political stability in future bailout discussions. IMF Communication Director Julie Kozack mentioned that the IMF would send a team for the second review once the new cabinet is in place.
The much-needed Stand-by Agreement supports efforts to stabilize the economy of crisis-hit Pakistan, particularly in safeguarding vulnerable population, that bore brunt of economic meltdown.
IMF official maintained that $1.9 billion has already been disbursed to Asian nation, with the final tranche pending after the second review.
