Imran Khan, the Chairman of Pakistan Tehreek-e-Insaf (PTI), will meet with a team of IMF officials today to secure the party’s commitment to the standby agreement.
IMF officials have approached PTI’s economic team to seek their support for the $3 billion standby agreement and its overall objectives, as reported in a tweet by Hammad Azhar.
PTI's economic team has been approached by the IMF to solicit the party's support for the USD 3 BN Stand-By Agreement and its broad objectives.
— Hammad Azhar (@Hammad_Azhar) July 7, 2023
An IMF team will call on Party Chairman Imran Khan at Zaman Park this afternoon. Both PTI's economic team and the IMF team will join, in…
According to Azhar, an IMF team will meet personally with PTI Chairman Imran Khan this afternoon at Zaman Park. There will be a discussion between PTI’s economic team and the IMF team, as well as virtual participation.
Statement Released by IMF
According to Esther Perez Ruiz, the IMF’s resident representative for Pakistan, staff members are currently meeting with representatives of Pakistan’s major political parties.
“IMF staff are in the process of meeting with representatives of the major political parties in Pakistan, including PML-N, PPP, and PTI, to seek assurances of their support for the key objectives and policies under a new IMF-supported program ahead of the approaching national elections.” the statement added.
Approval of Initial Tranche by IMF Executive Board
The IMF Executive Board has scheduled a meeting for 12th July to approve the release of the first tranche of $1.1 billion for Pakistan under the standby agreement.
Additionally, the IMF team met with the finance team of the Pakistan Peoples Party (PPP). A picture of the meeting was shared by Syed Naveed Qamar, the Federal Minister for Commerce.
Ester Perez luis IMF resident representative called on PPP finance team , Syed Naveed Qamar and Saleem Mandviwala ,to discuss standby agreement with Pakistan . PPP agreed to support the program in larger national interest pic.twitter.com/nU40P8gyvc
— Syed Naveed Qamar (@naveedqamarmna) July 7, 2023
According to Naveed Qamar, PPP has agreed to support the program.
Imran Khan and the IMF team will meet to discuss the $3 billion standby agreement. The meeting is crucial to securing support from the PTI. Moreover, the engagement with other major political parties such as PML-N and PPP underlines the IMF’s efforts to gain support for the new program’s key objectives and policies. In providing Pakistan with financial assistance, the IMF Executive Board will soon approve the first tranche.
