Tuesday, October 3, 2023

IMF Team to Meet Imran Khan Seeking Assurance Over Loan Program

The International Monetary Fund (IMF) is seeking support from major political parties, including Pakistan Tehreek-e-Insaf (PTI), for a new $3 billion bailout program. This was stated by Esther Perez Ruiz, the IMF’s resident representative.

The purpose of these meetings is to secure assurances of support from political parties regarding the objectives and policies of the new IMF-supported program. These discussions are particularly important as national elections are approaching. The IMF is also expected to meet with Pakistan Muslim League-Nawaz (PML-N) and Pakistan People’s Party (PPP), although there is no confirmation from them yet.

The $3 billion stand-by arrangement (SBA) is essential for Pakistan’s struggling economy. However, it still needs approval from the IMF Executive Board. The previous Extended Fund Facility has expired, and the pending reviews will be addressed under the new program.

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