IMF Prepared To Collaborate, Spokesperson Confirms

The International Monetary Fund (IMF) has signaled its willingness to cooperate with the new Pakistani government, dismissing Imran Khan’s call for an audit of election results before approving additional loans for Islamabad.

Julie Kozack, the IMF’s Director of Communications, conveyed during a press briefing that on January 11, the lender approved total disbursements amounting to $1.9 billion under the Standby Arrangement (SBA). She highlighted that the program is designed to support the government’s efforts in stabilizing the economy, with a specific focus on protecting the most vulnerable segments of society.

Read more: Imran Khan Decides To Write Letter To IMF Over Polls Rigging In Pakistan

Kozack commended the interim administration, acknowledging that economic stability was maintained during the caretaker government’s tenure. She noted the adherence to fiscal targets, the protection of the social safety net, and the implementation of a tight monetary policy stance to manage inflation and enhance foreign exchange reserves.

Expressing optimism about collaborating with the new government, Kozack emphasized the aim of formulating policies that ensure macroeconomic stability and promote prosperity for all citizens of Pakistan.

In response to Imran Khan’s call for an election audit, Kozack refrained from commenting on ongoing political developments. The IMF’s position comes after Imran Khan wrote to the global lender, urging an audit of the February 8 election before engaging in further loan negotiations with Islamabad.

Imran Khan’s counsel, Barrister Ali Zafar, underscored the importance of good governance in alignment with the charters of organizations such as the IMF and EU. He asserted that democracy cannot function if the people’s mandate is compromised, pointing to alleged irregularities during the elections. Zafar outlined Imran Khan’s request for an independent audit of constituencies where irregularities were reported, with the involvement of the judiciary for oversight.

The IMF’s willingness to engage with the new government reflects its commitment to supporting Pakistan’s economic stability and addressing the needs of vulnerable populations. While political developments, including calls for an election audit, continue, the IMF remains focused on collaborating with the Pakistani authorities to implement policies that foster economic well-being for all citizens.