ISLAMABAD: The International Monetary Fund (IMF) has rejected a request by the Pakistan Tehreek-e-Insaf (PTI) to audit the February 8 election results. In a statement, the IMF said it considers Pakistan’s politics an internal matter and lacks the authority to intervene. This response follows PTI’s publication of a February 28 letter to the IMF outlining its position.
An IMF spokesman clarified that the organization, which focuses on economic matters, refrains from commenting on domestic political matters. The IMF anticipates working with the new government to complete a second review under the current standby. In addition, they are ready to help formulate a new medium-term economic program if the government asks for it.
It is pertinent to mention that the PTI has asked the IMF to audit 30% of the country’s seats in the general elections and to factor in the country’s political stability in any further bailout talks. A day earlier, IMF Communications Director Julie Kozack said the IMF would send a team for a second review of the Stand-by Agreement once the new cabinet is assembled.
“The SBA-supported program supports the agency’s efforts to stabilize the economy with a strong emphasis on protecting the most vulnerable segments of the population,” she said. Kozack said a total of $1.9 billion has already been paid to Pakistan. However, the IMF will send a team for a second review so that the final tranche can be released.
“The IMF is ready to organize a second review mission of the standby shortly after the new cabinet is formed,” Kozack said. “We look forward to working with the new government on policies that will ensure macroeconomic stability,” she added.
