Pakistan’s former Prime Minister Imran Khan is becoming a political star despite the government’s best efforts. Meanwhile, International Monetary Fund (IMF) officials met Imran Khan after announcing a loan of $3 billion to Pakistan. For this, IMF officials had specially reached Lahore. It is being said that before the meeting of its executive board, the IMF is trying to reach an agreement on the new loan from all sides of Pakistan. In the meeting to be held on July 12, the staff-level agreement on giving loan to Pakistan can be finalized.
IMF seeks support from political parties of Pakistan
The Washington-based International Monetary Fund is seeking support from major political parties for its recently announced multi-billion dollar bailout program for Pakistan. These include Imran Khan’s PTI, the ruling Pakistan Muslim League-Nawaz (PML-N) and Bilawal Bhutto’s Pakistan People’s Party (PPP). Earlier today, IMF Local Representative Esther Perez Ruiz said in a statement that the meetings with political parties were to ensure their support for key objectives and policies under the new IMF program ahead of upcoming national elections.
IMF will give a loan of $ 3 billion to Pakistan
The IMF had announced on June 30 that Pakistan, which is facing a cash crunch, would be given a loan of $ 3 billion under a new program. There was also a staff level agreement between the IMF and Pakistan regarding this. Pakistan has been battling hyperinflation and low foreign exchange reserves for a long time. With the money currently available in Pakistan’s coffers, essential goods can be imported for only one month. Experts say that Pakistan is facing the worst economic crisis in the last few decades. If there was no IMF agreement, Pakistan could have defaulted.
PTI expresses happiness over IMF’s decision
Imran Khan’s PTI leader Hammad Azhar has welcomed the agreement between Pakistan and the IMF. He said the PTI welcomes the IMF’s decision to promote external financing and stronger policies ahead of elections later this year and until a new government is formed. Azhar said on Twitter that the IMF team met PTI Chairman Imran Khan at his residence today. He said the meeting was attended by IMF country chief Nathan Porter, who joined virtually from Washington, and Resident Representative Esther Perez Luis.