The International Monetary Fund (IMF) has turned down a request from the Pakistan Tehreek-e-Insaf (PTI) to conduct an audit of the election results from February 8.
In a statement issued, the global financial body stated that it views Pakistan’s political affairs as an internal matter and does not possess the authority to intervene in such issues.
This announcement follows PTI’s disclosure on February 28 that it had reached out to the IMF, outlining its stance through a formal letter.
“The IMF, being primarily focused on economic matters as an international institution, refrains from making comments on domestic political developments,” affirmed an IMF spokesperson.
The statement further conveyed the IMF’s readiness to engage with the incoming government to conclude the second review under the current Stand-by Arrangement, and, if requested, to assist in formulating a new medium-term economic program.
It is noteworthy that PTI had urged the IMF to audit 30% of the nation’s seats in the general elections and to consider the country’s political stability in any future bailout negotiations.
PTI clarified that it did not seek an investigative role for the IMF, as several organizations, including FAFEN, had already proposed methodologies for auditing the election.
“This involvement by the IMF would be of immense benefit to Pakistan and its people, potentially leading to sustained prosperity, growth, and macroeconomic stability within the country,” expressed the letter.
A day prior, IMF Communication Director Julie Kozack mentioned that IMF officials would conduct the second review of the Stand-by Agreement upon the formation of the new cabinet.
“The Stand-by Agreement-supported program is instrumental in the government’s efforts to stabilize the economy, with a strong emphasis on safeguarding the most vulnerable sectors of the population,” Kozack emphasized.
She also mentioned that $1.9 billion has been disbursed to Pakistan so far, awaiting the formation of the new cabinet for the release of the final tranche.
“The IMF stands prepared to initiate a mission for the second review of the Stand-by Agreement shortly after the formation of the new cabinet,” assured Kozack. “We eagerly anticipate collaborating with the new government on policies aimed at ensuring macroeconomic stability.”
However, Kozack refrained from commenting on questions concerning political instability.
