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The International Monetary Fund (IMF) on Friday refused a request of the Pakistan Tehrek-e-Insaf (PTI) to audit the February 8 election results.
In a statement, the global lending institution said that it considers the politics of Pakistan an internal matter of the country and it had no mandate to comment on the issue.
The statement came after former prime minister Imran Khan’s PTI on February 28 revealed that it had sent a letter to the IMF detailing its position.
“The IMF, as an international institution with a narrow mandate on economic issues, does not comment on domestic political developments,” a spokesperson for the IMF said.
“We look forward to engaging with the new government to complete the second review under the current Stand-by Arrangement and, should the government request, support the formulation of a new medium-term economic programme,” the spokesperson added.
It is pertinent to mention that the PTI had asked the IMF to audit 30% of the country’s seats in the general elections and to factor in the country’s political stability in any further bailout talks.
The party clarified that it does not wish for the IMF to adopt a ‘investigative’ role as many organisations including FAFEN have proposed methodologies to audit the election.
“Such a role by the IMF would be a great service to Pakistan and its people, and could become the harbinger of enduring prosperity, growth, and macroeconomic stability in the country,” the letter said.
A day earlier, IMF Communication Director Julie Kozack said that the IMF will send its team for the second review of the Stand-by Agreement as soon as the new cabinet is formed.
“The SBA supported program underpins the authority’s efforts to stabilise the economy with a strong emphasis on protecting the most vulnerable segments of the population,” she said.
Kozack said that a total of $1.9 billion has already been disbursed to Pakistan. However, the IMF would send a team for the second review so the final tranche could be released.
“The IMF stands ready to hold a mission for the second review of the Stand-by shortly after a new cabinet is formed,” Kozack said.
“We look forward to working with the new government on policies to ensure macroeconomic stability,” she added.
However, Kozack refused to comment on a question regarding political instability.
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