https://sputniknews.in/20230708/in-rare-move-imf-holds-talks-with-pakistans-political-parties-over-disbursal-of-funds-2894477.html
In Rare Move, IMF Holds Talks With Pakistan's Political Parties Over Disbursal of Funds
In Rare Move, IMF Holds Talks With Pakistan's Political Parties Over Disbursal of Funds
Sputnik India
For months, Pakistan has struggled with depleting foreign reserves, which at pesent stand at $4.1Bln.
2023-07-08T17:11+0530
2023-07-08T17:11+0530
2023-07-08T17:11+0530
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In what could be viewed as a rare move, the International Monetary Fund (IMF) held talks with political stakeholders in Pakistan, including the party founded by former Prime Minister Imran Khan, Pakistan Tehreek-e-Insaf (PTI), and the Pakistan Peoples Party (PPP), which is part of the present coalition government headed by Shehbaz Sharif.The global lender's initiative appears to be aimed at gaining support from both Pakistan's ruling alliance and the opposition to implement the recently agreed upon $3Bln loan agreement with Islamabad.The development comes days after the IMF and the Pakistan government finalised a deal for a $3Bln bail-out package for the Islamic nation.The IMF's meetings with Pakistan's political parties were confirmed by PTI's information secretary Raoof Hasan on Saturday, who said that the multilateral agency's decision to hold discussions with former premier Khan indicated that the cricketer-turned-politician was still relevant in the South Asian country's politics.The IMF's resident representative Esther Perez Ruiz noted in a press release that talks with political parties were held to "seek assurances of their support for the key objectives and policies under a new IMF-supported programme ahead of the approaching national elections".The IMF's $3Bln programme is crucial for reviving Pakistan's economy given that Islamabad's foreign funds have dwindled to a dangerous degree.Among other headwinds that the country is experiencing are, a currency in free-fall, record inflation, petrol and diesel prices at all-time highs as well as a depressed mood in the agricultural sector because of unseasonably heavy rainfall.
https://sputniknews.in/20230630/accepting-imf-terms-could-cause-social-unrest-in-pakistan-expert-warns-2764357.html
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In Rare Move, IMF Holds Talks With Pakistan's Political Parties Over Disbursal of Funds
For months, Pakistan has struggled with depleting foreign reserves, which at pesent stand at $4.1Bln.
In what could be viewed as a rare move, the
International Monetary Fund (IMF) held talks with political stakeholders in Pakistan, including the party founded by former Prime Minister
Imran Khan, Pakistan Tehreek-e-Insaf (PTI), and the
Pakistan Peoples Party (PPP), which is part of the present coalition government headed by
Shehbaz Sharif.
The global lender's initiative appears to be aimed at gaining support from both Pakistan's ruling alliance and the opposition to implement the recently agreed upon $3Bln loan agreement with Islamabad.
The development comes days after the IMF and the Pakistan government finalised a deal for a $3Bln bail-out package for the Islamic nation.
The IMF's meetings with Pakistan's political parties were confirmed by PTI's information secretary Raoof Hasan on Saturday, who said that the multilateral agency's decision to hold discussions with former premier Khan indicated that the cricketer-turned-politician was still relevant in the South Asian country's politics.
"The meeting of the IMF delegation [with Khan] proves the political relevance of PTI," Hasan said in a statement.
The IMF's resident representative
Esther Perez Ruiz noted in a press release that talks with political parties were held to "seek assurances of their support for the key objectives and policies under a new IMF-supported programme ahead of the approaching national elections".
The IMF's $3Bln programme is crucial for reviving Pakistan's economy given that Islamabad's foreign funds have dwindled to a dangerous degree.
Among other headwinds that the country is experiencing are, a currency in free-fall, record inflation, petrol and diesel prices at all-time highs as well as a depressed mood in the agricultural sector because of unseasonably heavy rainfall.
