ISLAMABAD: The International Monetary Fund (IMF) said its scope is restricted to economic issues and it cannot interfere in any country’s internal and political affairs.

A spokesperson of the Washington-based lender confirmed that the Fund received on February 28 a letter from the Pakistan Tehreek-e-Insaf (PTI) which demanded linking the release of the next tranche with political stability in Pakistan.

The official stated, “The IMF received a letter from a PTI spokesperson on February 28 regarding the Fund’s engagement with Pakistan under the program. The IMF, as an international institution with a narrow mandate on economic issues, does not comment on domestic political developments.

However, given the importance of the institutional environment for economic stability and growth, we do encourage the fair and peaceful resolution of all electoral disputes.

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In terms of our engagement with Pakistan, our aim is to support the implementation of strong policies to deepen financial stability, address longstanding economic and underlying balance of payments challenges, and restore sustained and inclusive growth for the benefit of all Pakistani citizens.

This includes stronger public finances, through high-quality revenue measures to broaden the tax base while scaling up the support for the most vulnerable, restoring energy sector viability, improving institutional governance and anti-corruption effectiveness, SOE reform, building climate resilience, and creating a level playing field for private businesses to promote investment and job creation.

On the basis of these objectives, 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 program”.

Copyright Business Recorder, 2024