The International Monetary Fund (IMF) promised full assistance on Friday to Pakistan’s newly-elected coalition government in developing a new economic agenda.
“We look forward to working with the new government to complete the second review under the current stand-by arrangement and, if requested, to support the formulation of a new medium-term economic program,” local media said, quoting a global lender spokeswoman.
In response to a letter from Imran Khan, the jailed founder of Pakistan Tehreek-e-Insaf (IMF), the IMF stated that while it did not comment on domestic political developments, it encouraged the fair and peaceful resolution of all electoral disputes, recognizing the importance of the institutional environment for economic stability and growth.
“The IMF, as an international institution with a narrow mandate on economic issues, does not comment on domestic political developments.”
The spokesperson went on to say that “in terms of our engagement with Pakistan, our aim is to support the implementation of strong policies to deepen financial stability, address the longstanding economic and underlying balance of payments challenges, and restore sustained and inclusive growth for the benefit of all Pakistani citizens” .
Earlier, the IMF’s communications director stated at a press briefing on Thursday that the global lender was prepared to deploy a mission for the second assessment of the Stand-by Agreement (SBA) soon after the new government constituted a cabinet.
“We look forward to working with the government to ensure stability, macroeconomic stability, for the good of the people of Pakistan,” said Julie Kozack, president of the coalition.
In answer to a question on Pakistan, she explained that the present focus is on completing the existing Stand-by program, which expires in April 2024.
Ms Kozack also declined to comment on the current political scenario in Pakistan.
Iqra Khan