The International Monetary Fund (IMF) has expressed its desire to engage with the new government on policies to ensure macroeconomic stability and prosperity for all of Pakistan’s citizens.
The development comes a day after PTI Spokesman announced that a letter would be sent from incarcerated party founder Imran Khan to the international lender urging it for an independent audit of the Feb 8 general elections before it engages with Islamabad.
During a press briefing, the IMF’s Chief Communication Officer was asked about whether the IMF board would consider the proposed letter by the PTI Chairman opposing IMF’s Cooperation with the next government as an political group perceives that recent elections were rigged/manipulated by its political opponents in collaboration with Country’s military, Election regulator as well as the top judiciary.
Historically, Pakistan fell prey to unceasing animosity of its leaders who never came out of their ego, political fame and lust for power. The politics of hate, and name calling prompted agitation and violence leading to nationwide political unrest and economic frailty in the past multiple years. Political instability and bad governance brought the country on the verge of an economic collapse that was narrowly averted through timely IMF bailout package of $3 billion under Stand-By Arrangement, that expiring in next two months.
Currently, Pakistani Economists are working to get approval from the IMF board for issuance of a fresh long term $6 billion IMF loan which perceived to be crucial for economic stability and servicing of foreign loans in the coming years. Interestingly, the interim government successfully maintained economic stability through strict adherence to fiscal targets, protection of the social safety net and realizations of tough goals set by the global lender for the government. Meanwhile, the Central Bank comtinued tight monetary policy was pavitol to control headline inflation and build up of foreign exchange reserves.
There had been little improvement in country’s economic indicators in recent months while transition of a newly elected government created a Ray of hope for future political and financial stability in the country. Unfortunately, the PTI leaders expanded their political tussle other continent reaching out to International Monetary Fund to block country’s access to foreign loans that will although fail their political rivals in implementing their manifesto but also plunged the country into deep economic crisis. Previously, Pakistan Tahreek-e-Insaf provincial governments in KP and Punjab sabotaged Pakistan deal with the IMF by not up holding their constitutional obligations. Now, the same policy is being implemented in the garb of electoral rigging and election irregularities.
The nation has not witnessed such kind of national service by any leader, political group and his supporters, wherein armed mob attack national institutions in the name country’s defence, fuel violence in the name of civil rights, block dearly needed funds in the name political opposition and spoiled foreign relations in the garb of national integrity. Apparently, no nation needs an enemy whose loyalists dig county’s foundations through diggers and mattocks. In fact, PTI’s rigid political works is doing an equal amount of harm to the country as being performed by the Tahreek-e-Taliban Pakistan through bullets and bombs.
The nation suffered enormously from months long instability and economic crisis that stem out from political rivalry of its leaders. There is a clear framework, rules and limits for political work, civic activities, opposition and criticism which governs by the national, institutional and communal interest.
Presently, PTI leaders are mourning democracy but they are ignoring country’s security, prestige and sovereignty that are seriously hindering from ruthless politics and agitation. It would be better that our leaders keep their political wrangling with in a specific limit inside the country, so it does not undermines Pakistan’s core interests at the global level.
