IMF Team meets Imran Khan, PTI welcomes $3 billion Stand-By Arrangement

PoliticsIMF Team meets Imran Khan, PTI welcomes $3 billion Stand-By Arrangement

LAHORE, Pakistan: The International Monetary Fund (IMF) met the Chairman Pakistan Tehreek-e-Insaf (PTI) at his residence in Zaman Park in Lahore on Friday, the leader Hammad Azhar told on Twitter.

The meeting was attended by the IMF Country Chief Nathan Porter who joined virtually from Washington and Resident Representative Esther Perez who was physically present.

The PTI’s team included Chairman Imran Khan, Shah Mehmood Qureshi, Hammad Azhar, Shaukat Tarin, Omer Ayub Khan, Dr. Sania Nishtar, Shibli Faraz, Taimur Khan Jhagra, and Muzammil Aslam.

The meeting lasted for more than an hour.IMF Team meets Imran Khan, PTI welcomes $3 billion Stand-By Arrangement

The discussions took place around the Staff Level Agreement that the IMF has reached with the government of Pakistan for a nine-month US$ 3 billion Stand-By Arrangement (SBA) and in this context we support the overall objectives and key policies.

“We welcome the SBA to preserve macroeconomic stability by anchoring external financing and sound policies ahead of the national elections due in the Fall of this year and until a new government is formed,” Hammad Azhar wrote.

“We wish to stress the importance of programs to protect the lower-income segments of the population from high inflation,” he added.

The PTI leader said that the party considers political stability and rule of law as integral to the economic stability of Pakistan.

Hammad Azhar said that following free, fair, and timely elections as per the Constitution, a new government mandated by the people will initiate reforms and engage on a longer-term basis with multilateral institutions to further economic transformation, higher and more inclusive growth.

The Chairman PTI Imran Khan will shortly address the nation in this regard.

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
Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

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