IMF avoids commenting on Pakistan's political situation, says ready to work with new govt

WASHINGTON: The International Monetary Fund (IMF) has reiterated its resolve to work with Shehabz Sharif’s newly elected government in Pakistan.

Addressing a press conference in Washington, IMF Director of Communications Julie Kozek said completing the existing standby arrangement is a priority, looking forward to working with Pakistan’s new government to ensure economic stability.

The current standby arrangement ends in April 2024.

The International Monetary Fund (IMF) is ready to send its mission for the second economic review after the formation of the new cabinet of Pakistan, Julie Kozek said in a press conference.

The IMF director of communications avoided to respond on the political situation in Pakistan and applauded the caretaker government for keeping economic stability intact.

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Earlier it emerged that the newly-elected PML-N-led government has decided to avail a fresh IMF loan program, and the Ministry of Finance has initiated actions on the directives of the premier.

Pakistan is likely to seek $6 to 8 billion loan program from the international lender and for this immediate contact will be made with the International Monetary Fund for negotiations.

The sources further said the conditions of the International Monetary Fund would be stricter this time.