<\/p>\n
The International Monetary Fund (IMF) has said that it \u201cstands ready\u201d to hold a mission for the second review of the Stand-By Arrangement with Pakistan after a new cabinet is formed.<\/p>\n
\u201cThe focus, therefore, is currently on completion of the current Stand-By<\/a> programme, which ends in April 2024. We look forward to working with the new government on policies to ensure macroeconomic stability,\u201d IMF Director of Communications Julie Kozack told journalists at a news briefing on Thursday.<\/p>\n Kozack noted that the IMF Executive Board had approved<\/a> the first review of Pakistan\u2019s Stand-by Arrangement (SBA) on January 11, with disbursements totaling approximately $1.9 million.<\/p>\n The SBA aims to stabilise the economy, particularly focusing on safeguarding vulnerable segments of the population.<\/p>\n Highlighting the caretaker government\u2019s efforts<\/a>, Kozack praised their commitment to fiscal targets, the protection of social safety nets, and a tight monetary policy to control inflation.<\/p>\n She also acknowledged timely adjustments in tariffs to enhance the energy sector\u2019s viability.<\/p>\n Looking ahead, Kozack emphasised the IMF\u2019s readiness<\/a> to conduct a mission for the second review of the Stand-By arrangement after the formation of a new cabinet. The current Stand-By programme concludes in April 2024, and the IMF anticipates working closely with the new government to ensure macroeconomic stability.<\/p>\n Responding to a question regarding political instability, Kozack refrained from commenting on politics. Instead, she reiterated the IMF\u2019s commitment to collaborating with the new government and expressed optimism about fostering stability for the benefit of the people of Pakistan.<\/p>\n Last month, the IMF had stated that it is looking forward<\/a> to engaging with the new government on policies to ensure \u201cmacroeconomic stability and prosperity for all of Pakistan\u2019s citizens\u201d.<\/p>\n The development came a day after PTI Senator Ali Zafar told reporters that a letter<\/a> would be sent from incarcerated party founder Imran Khan to the international lender urging it to call for an independent audit of the Feb 8 general elections before it continues talks with Islamabad.<\/p>\n Zafar said the IMF, the European Union and other organisations had a charter that stated that good governance was needed for working in the country or giving a loan.<\/p>\n\u2018Looking forward\u2019 to working with new govt<\/h2>\n