He added that the IMF wanted across-the-board support, but there had been no discussion about the future.Īccording to the PPP leader, the IMF wanted political input on the matter and was informed by the party that the PPP, as part of the government, supported the agreement and the need for the IMF programme. Some observers feel that these meetings should also be viewed in the same context.Īs part of the move, the IMF representative consulted with the economic team of the PPP, a crucial member of the coalition government, to gain their backing.Ĭommerce Minister Naveed Qamar told Dawn that the meeting “only discussed the standby agreement, nothing else”. In recent months, the IMF has been at pains to clarify that it does not favour any particular party over the other and will negotiate with whichever party forms the next government. However, others speculated that since the SBA agreed with the IMF envisions elections being held this year, the Fund seems to be counting on negotiating a fresh programme with the incoming government, whoever forms it. “I don’t recall such meetings,” he added. He explained that before any programme, IMF officials typically met stakeholders, such as representatives of chambers, banks, and labour unions. However, it is not yet known whether the IMF team will meet other members of the coalition government - including the JUI-F led by Maulana Fazlur Rehman who also heads the ruling coalition PDM.Īhead of meetings, Ms Ruiz said that IMF staff was in the process of meeting with representatives of 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 programme ahead of the approaching national elections.Įconomist Dr Ashfaque Hassan Khan, who has also advised the government in the past, told Dawn that the IMF team’s meetings with political parties were somewhat out of the ordinary. On Friday, IMF Resident Representative Ester Perez Ruiz met with the economic teams of the PPP and the opposition PTI. Pakistan was absent from an earlier schedule released in June, igniting speculation that the IMF was not going to release funds from an earlier programme that expired on June 30.
The meetings came almost a week before a meeting of the IMF executive board will review the $3 billion arrangement for Pakistan on July 12, after a staff-level pact was finalised. ISLAMABAD: In a ‘rare’ move, ostensibly to seek assurances from political parties for a new lender-supported programme, a team from the International Monetary Fund (IMF) held meetings with the PTI and PPP leadership to gain support for the implementation of the $3 billion standby arrangement. Hammad says PTI supports ‘overall objectives and key policies’ for macroeconomic stability.Fund seeks assurances from PTI, PPP leaders both parties endorse $3bn agreement.
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