Islamabad: The International Monetary Fund (IMF) has put another condition in front of Pakistan seeking loans. The IMF on Monday urged Pakistan to follow the constitutional process to resolve its political disputes. Prime Minister Shehbaz Sharif has approached Managing Director Kristalina Georgieva to restore the $6.5 billion bailout package. The Express Tribune quoted sources as saying that the discussion between Shehbaz and Georgieva took place on Saturday after the Finance Ministry could not resolve the deadlock over the loan talks during the last four months.
Two days after the talks between Shehbaz and Georgieva, the IMF mission chief in Pakistan, Nathan Porter, made an unusual statement. Due to this, the attention of the IMF increased on political activities. “We take note of the recent political developments and do not comment on domestic politics, but we hope that a peaceful solution will be found in accordance with the Constitution and the rule of law,” he said.
Keeping an eye on the developments in Pakistan
The ongoing crackdown on PTI workers, abduction of people, violation of the constitutional limit of 90 days for holding elections in the two provinces, and trial of civilians in military courts under the Army Act, The Express Tribune reported. This statement has come in between.
In response to questions sent by The Express Tribune, Porter also explained the conditions that Pakistan would have to fulfill in order to reach an agreement with the foreign lender. These include arranging external debt, approving a new budget in line with the IMF framework, and restoring the proper functioning of the foreign exchange market.
Instructions to the Finance Ministry to share the details of the budget with the IMF
According to the news of ‘The Express Tribune’, after talking to the IMF chief, the Prime Minister directed the Finance Ministry to share the details of the next budget with the IMF. The contact came a day before Finance Minister Ishaq Dar again criticized the global bank on national television. “We are at a point where if the review does not happen now, it will be extremely biased and embarrassing for them (IMF),” Dar told a private TV channel.
A top Finance Ministry official confirmed to The Express Tribune that the Prime Minister has approached the Managing Director of the IMF and reiterated his role in resolving the impasse, The Express Tribune reported. Earlier, the prime minister had called Georgieva and sought her intervention to start the review talks, which took place in February.
