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regular-article-logo Friday, 24 May 2024

Former Pakistan Prime Minister Imran Khan’s PTI ties stability to IMF funds

Khan’s Pakistan Tehreek-e-Insaf (PTI) party has sent a letter to the IMF detailing its position, two senior sources in the party said, adding more details would be made public in due course

Asif Shahzad, Ariba Shahid Islamabad Published 29.02.24, 09:16 AM
Imran Khan.

Imran Khan. File image

The party of Pakistan’s jailed former Prime Minister Imran Khan has asked the International Monetary Fund (IMF) to factor in the country’s political stability in any further bailout talks, two people familiar with the matter said on Wednesday.

Khan’s Pakistan Tehreek-e-Insaf (PTI) party has sent a letter to the IMF detailing its position, two senior sources in the party said, adding more details would be made public in due course.

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The IMF didn’t respond to an email for a comment on the letter.

The IMF also declined to comment on the country’s political situation last week after Khan’s aides said they would urge the lender to call for an independent audit of Pakistan’s disputed February 8 elections before engaging in further talks with Islamabad. Pakistan’s cash-strapped economy is struggling to stabilise after securing a $3 billion standby arrangement from the IMF last summer.

Analysts say a new government — which Khan’s opponents are expected to form — is likely to need more funds from the global lender after the standby arrangement expires in April. Khan, ousted in April 2022 in a parliament vote of confidence, was accused by Opposition parties of scuttling an IMF deal under a $6 billion Extended Fund Facility days before leaving his office.

An IMF spokesperson said last week that it was focused on the completion of the standby programme but was available to support the post-election government through a new arrangement to address Pakistan’s ongoing challenges if requested.

Reuters

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