ISLAMABAD: Former Pakistani Prime Minister Imran Khan’s party has asked the International Monetary Fund to factor in the country’s political stability in any further bailout talks, two people familiar with the matter said on Wednesday.
Khan’s Pakistan Tehreek-e-Insaf (PTI) party has sent a letter to the IMF detailing its position, two senior party sources said, adding that more details would be released in due course.
The IMF has not yet received the letter, the lender said in an email to Reuters.
Last week, the IMF declined to comment on the country’s political situation after Khan’s aides said they would urge the lender to request an independent audit of Pakistan’s disputed February 8 election before engaging in further talks with Islamabad.
Sohail Ahmed of Karachi’s Topline Securities said the letter was unlikely to have a major impact on the market.
“The IMF will do its own due diligence,” he said.
Pakistan’s cash-strapped economy is struggling to stabilize after securing a $3 billion emergency deal from the IMF last summer, with record inflation, a devaluation of the rupee and dwindling foreign reserves.
China has provided a $2 billion loan to Pakistan, citing unnamed sources in the Ministry of Finance.
The $2 billion loan was due in March and was extended by one year.
