Monitoring Desk
ISLAMABAD: Minister of State for Finance Dr Aisha Ghaus Pasha termed a statement spelling out conditions to unlock the stalled bailout package by the International Monetary Fund (IMF) as “meddling in internal affairs”.
Earlier this week, the IMF had urged Pakistan to follow the Constitution in order to resolve its political disputes, as Prime Minister (PM) Shehbaz Sharif contacted Managing Director (MD) Kristalina Georgieva to revive the derailed $6.5 billion bailout package apparently in a last-ditch effort to avoid default.
The discussion between Shehbaz and Georgieva took place on Saturday after the finance ministry could not break the deadlock over the loan talks during the past four months, official sources told The Express Tribune.
Two days after the highest-level contact was established between Shehbaz and Georgieva, IMF Mission Chief to Pakistan Nathan Porter gave an unusual statement, expanding the IMF’s focus to the political arena.
“We take note of the recent political developments, and while we do not comment on domestic politics, we do hope that a peaceful way forward is found in line with the Constitution and rule of law.”
The statement came on the heels of an ongoing crackdown against the PTI workers, abductions of people, breach of the 90-day constitutional limit to hold elections in the two provinces and trial of civilians in military courts under the Army Act. Usually, the IMF does not comment on political matters.
In response to questions sent by a local English daily Porter also spelled out the conditions that Pakistan has to meet to reach an agreement with the foreign lender. These include arranging foreign loans, approval of a new budget in line with the IMF framework, and restoration of the foreign exchange market’s proper functioning.
