In a significant setback for Pakistan Tehreek-e-Insaf (PTI), the International Monetary Fund (IMF) has rebuffed Imran Khan’s request to audit the February 8 election results. The leading political party had approached the global lender, urging it to intervene in the controversial election, but the IMF has asserted its lack of authority to interfere in national political matters.
The IMF, emphasizing that politics is an internal affair, distanced itself from involvement in Pakistan’s domestic political issues. However, the institution expressed optimism about collaborating with the newly elected government to finalize the second review of the current Stand-by Arrangement.
While declining the request for election result audit, the IMF affirmed its willingness to assist in developing a new medium-term economic program if formally requested by the government.
The beleaguered PTI had previously written a letter to the IMF, highlighting concerns about the recently held controversial election seats and urging the institution to consider the country’s political stability in future bailout discussions. IMF Communication Director Julie Kozack clarified that the IMF would dispatch a team for the second review once the new cabinet is in place.
The Stand-by Agreement, crucial for stabilizing the crisis-hit Pakistani economy, has already seen the disbursement of $1.9 billion to the Asian nation. The final tranche remains pending, contingent on the successful completion of the second review.
IMF officials reiterated their commitment to supporting Pakistan in stabilizing its economy, particularly in safeguarding the vulnerable population that has borne the brunt of the economic meltdown. As the political landscape evolves, the IMF stands ready to engage in constructive collaboration with the new government to address economic challenges.
