The International Monetary Fund (IMF) was “in the process” of meeting representatives of major political parties in Pakistan, including the opposition PTI, to “seek assurances of their support for key objectives and policies” under the new $3 billion Standby Agreement, the lender’s resident representative for Pakistan confirmed on Friday.
“IMF staff are in the process of meeting with representatives of the major political parties in Pakistan, including PML-N, PPP, and PTI, to seek assurances of their support for the key objectives and policies under a new IMF-supported program ahead of the approaching national elections,” Esther Perez Ruiz told Dawn.com.
She added that the new agreement was expected to be considered by the IMF Executive Board in the upcoming days.
The executive board of the IMF will meet on July 12 to review the $3 billion Stand-by Arrangement (SBA) for Pakistan, the staff-level pact for which was finalised last week.
Pakistan was absent from an earlier schedule released in June, igniting speculation that the IMF was not going to release funds from an earlier programme that expired on June 30.
On June 29, the IMF and Pakistan reached a stand-by arrangement (SBA) to ease the country’s financial crisis. The nine-month SBA, if approved, will bring $3bn, or 111pc of Pakistan’s IMF quota.
The SBA, subject to the IMF board approval, offers much-needed relief to a country still grappling with a severe balance of payments crisis and declining foreign exchange reserves.
Earlier today, PTI Chairman Imran Khan said he would be meeting the IMF delegation during a court hearing — pertaining to May 9 riots — in Lahore.
Upon being asked to join the investigation in the case at 4pm today, the former prime minister said he was unavailable to join the probe as he was scheduled to meet with a delegation from the IMF.
Separately, PTI leader and former federal minister Hammad Azhar said the PTI’s economic team was approached by the global lender to “solicit the party’s support” for the $3 billion Stand-By Agreement and its broad objectives.
“An IMF team will call on Party Chairman Imran Khan at Zaman Park this afternoon,” he tweeted.
Azhar added that both the PTI’s economic team and the IMF team would join, in person and virtually, to take part in the discussions.
