<\/p>\n
The United States has urged Pakistan to \u201ccontinue working with the International Monetary Fund (IMF) and other international financial institutions towards macroeconomic reforms\u201d for economic stability in the country.<\/p>\n
The development comes after the PTI wrote a letter to the Fund<\/a> urging the lender to endorse an audit of the 2024 elections for the sake of political stability in the country, before entering into a dialogue with Islamabad for a new bailout package.<\/p>\n Addressing a press conference in Islamabad, PTI leader Barrister Gohar Khan said that a letter \u2014 written by Imran Khan\u2019s spokesperson Raoof Hasan \u2014 was handed over to the IMF resident representative in Pakistan and would be opened in Washington. He said once the letter was received by the intended recipients, it would be then shared with the media in Pakistan as well.<\/p>\n \u201cFor now, we can share that PTI\u2019s founding chairman Imran Khan does not want any adverse effects on the economy of Pakistan. In the letter, we have reminded IMF of its promises that the election will be free and fair,\u201d he said.<\/p>\n During a regular press briefing<\/a> on Wednesday, US State Department Spokesperson Matthew Miller was asked about the PTI\u2019s letter.<\/p>\n \u201cAs the US knows, Pakistan needs $2 billion alone in March to be able to avoid economic breakdown. How do you see this effort on PTI\u2019s part to be contacting IMF and also talking about election rigging?\u201d the reporter asked.<\/p>\n To this, Miller said, \u201cI\u2019ll just say with respect to the IMF that we support Pakistan\u2019s efforts to break free from the vicious cycle of debt and international financing.\u201d<\/p>\n He further said that the long-term health of Pakistan\u2019s government and economy was crucial for the country\u2019s stability.<\/p>\n \u201cPakistan\u2019s new government must immediately prioritise the economic situation because the policies over the next several months will be crucial to maintaining economic stability for Pakistanis,\u201d he said.<\/p>\n Miller also urged Pakistan to \u201ccontinue working with the IMF and other international financial institutions towards macroeconomic reforms\u201d.<\/p>\n Pakistan averted default last summer thanks to a short-term IMF bailout<\/a>, but the programme expires in April and a new government will have to negotiate a long-term arrangement to keep the economy stable.<\/p>\n Last week, Julie Kozack, the director of the communications department at IMF, was asked<\/a> whether Pakistan was on track to securing the third tranche of the short-term agreement and whether the IMF would entertain any letter by PTI\u2019s Imran about the election irregularities.<\/p>\n In her response, Kozack said: \u201cOn Jan 11, the IMF executive board approved the first review of the Stand-By Arrangement with Pakistan that brought total disbursements under the Stand-By Arrangement to $1.9 billion. The Stand-By Arrangement is supporting the authority\u2019s efforts to stabilise the economy and to, of course, with a strong focus on protecting the most vulnerable.\u201d<\/p>\n