IMF team to meet Imran Khan to seek assurance on bailout package

  • The IMF team will meet PML-N, PPP and PTI.
  • The lender wants assurance before the election.
  • The IMF board will consider the Pakistan matter on July 12.

KARACHI: The International Monetary Fund (IMF) is seeking the support of major political parties, including the Pakistan Tehreek-e-Insaf (PTI), for its recently announced $3 billion bailout programme, the lender said on Friday.

Esther Perez Ruiz, the IMF’s local representative, said in a statement that the meetings with political parties were “to seek assurances of their support for key objectives and policies under a new IMF-supported program ahead of the upcoming national elections.”

The official said they would also meet the Pakistan Muslim League-Nawaz (PML-N) and the Pakistan Peoples Party (PPP).

Pakistan on Friday secured a much-needed $3 billion stand-by arrangement (SBA) from the IMF, providing a much-needed breather to the South Asian economy as it teetered on the brink of default.

The staff-level agreement on the SBA is subject to approval by the IMF Executive Board, which is scheduled to meet on July 12.

The last Extended Fund Facility expired on June 30, pending the 9th, 10th and 11th reviews.

PTI has confirmed the meeting

Senior PTI leader and former finance minister Hammad Azhar said on Twitter that the party’s economic team has been approached by the IMF seeking support for the loan agreement and its broad objectives.

“An IMF team will meet party president Imran Khan at Zaman Park this afternoon,” he tweeted.

Azhar said that both PTI’s economic team and the IMF team would join to participate in the discussions in person and virtually.

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