PTI penned to IMF;Consider political stability in loan talks
IMF says it is yet to receive the letter.
According to Reuters the letter addressed to the IMF outlines the critical importance of political stability in Pakistan’s economic landscape.
While specific details of the correspondence remain undisclosed, senior officials assure that more information will be disclosed in due course.
This development follows a recent series of events wherein Khan’s aides expressed intentions to press the IMF for an independent audit of Pakistan’s contentious February 8 elections before resuming negotiations with Islamabad.
The Pakistan Tehreek-e-Insaf (PTI) 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.
Former prime minister Imran Khan’s PTI 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.
The IMF has yet to receive the letter, the lender said in an email to Reuters.
A day earlier, Moody’s Investors Service said that there was high uncertainty around the newly elected government’s willingness and ability to quickly negotiate a new IMF programme soon after the current one expires in April.
“Political risks are high, following a highly controversial general elections held on Feb 8, 2024,” it added.
Last week, the IMF declined to comment on the country’s political situation after Khan’s aides said they would urge the lender to call for an independent audit of Pakistan’s disputed Feb. 8 elections before engaging in further talks with Islamabad.
Imran Khan’s letter to IMF has no importance”.Bilawal
Sohail Ahmed of Karachi-based Topline Securities said the letter was unlikely to have a major market impact.
“The IMF will do its own due diligence,” he said.
IMF ready to work with new govt
Pakistan’s cash-strapped economy is struggling to stabilise after securing a $3 billion standby arrangement from the IMF last summer, with record inflation, rupee devaluation and shrinking foreign reserves.
