In Islamabad on Wednesday, sources revealed that Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) party has reached out to the International Monetary Fund (IMF) regarding the country’s political stability in ongoing bailout discussions. The party has reportedly sent a letter to the IMF outlining its position on the matter, with more details expected to be disclosed in the future.
However, the IMF did not provide a response to an email seeking comment on the letter. Last week, the IMF also refrained from commenting on Pakistan’s political situation following calls from Khan’s aides for an independent audit of the disputed Feb. 8 elections before continuing talks with Islamabad.
After securing a $3 billion standby arrangement from the IMF last year, Pakistan’s economy continues to face challenges as it strives to stabilize. Analysts predict that a new government, likely to be formed by Khan’s opponents, will require additional funding from the IMF once the standby arrangement expires in April.
Khan, who was ousted in a parliament vote of confidence in April 2022, has been accused by opposition parties of disrupting an IMF deal under a $6 billion Extended Fund Facility shortly before leaving office. However, Khan has denied these allegations.
Responding to inquiries, an IMF spokesperson affirmed focus on completing the standby program but expressed willingness to assist the post-election government through a new arrangement to address ongoing challenges in Pakistan if requested.
(Additional reporting by Ariba Shahid in Karachi; Writing by Shivam Patel; Editing by Andrew Heavens and Christina Fincher)
