ISLAMABAD – Beleaguered Pakistan Tehreek e Insaf continues to give tough time to Pakistan Muslim League Nawaz and allies parties as party jailed founder Imran Khan decided to approach International Monetary Fund (IMF) to halt financial support for Pakistan due to massive rigging in Elections 2024.
Party senior leader Ali Zafar in a press conference confirmed that incarcerated Imran Khan will pen a letter to International Monetary Fund (IMF).
After a meeting with Imran Khan, PTI Legal Eagle informed journalists that charters of organizations like the IMF and EU require nations to show good governance in order to receive financial support.
He raised questions at alleged theft of nation’s mandate, stressing importance of free and fair elections in democratic nation. Zafar also lamented government’s move to seek IMF bailout without auditing the election results.
This is actually not the first time when PTI attempted to dent IMF deal. In 2022, Shaukat Tarin advised PTI’s finance ministers to apprise IMF that their commitments could not be fulfilled due to recent floods.
Pakistan however managed to receive $3 billion IMF program last year, which prevented a sovereign debt default. This program will end next month, and securing a new, larger one is a priority for the new government.
Earlier, Fitch Ratings suggested that Pakistan’s recent election results pose potential challenges to securing a new financing deal with the IMF, following the expiration of the current Stand-By Arrangement (SBA) in March 2024.
The outcome of controversial election along with ongoing political uncertainty will prolong negotiations with the IMF, thereby impacting the country’s credit profile.
Political uncertainty in Pakistan may affect new deal with IMF; Fitch Ratings
