IMF seeks PTI ‘support’ in standby agreement: Hammad

PoliticsIMF seeks PTI 'support' in standby agreement: Hammad
  • Lender team to meet Imran Khan to solicit party’s support for $3b financial package

ISLAMABAD, Pakistan: The Pakistan Tehreek-e-Insaf (PTI) leader Hammad Azhar on Friday said that the International Monetary Fund (IMF) has reached out to the party leadership “to solicit the party’s support for the US$ 3 billion standby agreement and its broad objectives”.

In a tweet on Friday, the PTI leader added that the IMF’s team is to hold a meeting with the party chief over the telephone this afternoon.

“Both PTI’s economic team and the IMF team will join, in person and virtually, to take part in the discussions,” he added.

Last month, the IMF reached staff-level agreement with Pakistan on a US$ 3 billion stand-by arrangement.

The staff-level agreement is subject to approval by the IMF Executive Board with its consideration expected by mid-July 2023.

The new stand-by arrangement will support the authorities’ immediate efforts to stabilize the economy from recent external shocks, preserve macroeconomic stability and provide a framework for financing from multilateral and bilateral partners.

Mati
Mati
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