IMF refuses to comment on PTI letter, says ready to work with new govt

Director of Communications Julie Kozack says caretaker govt maintained economic stability

ISLAMABAD  -  The International Mon­etary Fund (IMF) has refused to comment on Pakistan Tehreek-e-In­saf’s (PTI) founder Imran Khan’s letter asking for an audit of the recently held General Elections and expressed willingness to work with the new Paki­stani government.

“I’m not going to com­ment on ongoing politi­cal developments, so, I don’t have anything else to add to what I just said “ Julie Kozack, Direc­tor of Communications at the IMF said during a press briefing in re­sponse to a query in re­sponse to the PTI found­ing chairman’s decision to write a letter to the Fund to call for an audit of the February 8 elec­tion before it continues talks with Islamabad for a new loan programme.

On whether Pakistan was in line with all the requirements of Stand-By Arrangement for its third trench of $1.1 bil­lion which is due next, Kozack said the IMF Ex­ecutive Board approved the first review of the SBA, with Pakistan that brought total disburse­ments under the Stand-By Arrangement to $1.9 billion. “The Stand-By Arrangement is support­ing the authority’s efforts to stabilize the economy and to, of course, with a strong focus on protect­ing the most vulnerable,” she said. During the pe­riod of the caretaker government, the author­ities have maintained economic stability. This has been done through strict adher­ence to fiscal targets while also pro­tecting the social safety net. It has been done by maintaining a tight monetary policy stance to control in­flation and to continue to build up foreign exchange reserves.

“We look forward to working with the new government on policies to ensure macroeconomic stability and prosperity for all of Pakistan’s cit­izens. And I am going to leave it at that,” she added.

“Imran Khan will issue a letter to the IMF. The charter of IMF, EU, and other organisations stipulates that they can function or provide loans to a country only if there’s good gover­nance,” the PTI leader’s counsel Bar­rister Ali Zafar told reporters at the Adiala Jail on Thursday.

Pakistan Tehreek-e-Insaf (PTI) founder Imran Khan shared on Fri­day that he has written a letter to the International Monetary Fund (IMF), asking the global lender to hold an audit of the election results before approving any new loan for Islamabad. “The letter has been written to the IMF and would be dispatched today. If the country gets a loan in such a situation, then who will return it?” Khan told the media during a hearing of the £190 million reference at Adiala Jail.

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