By Staff Reporter
ISLAMABAD: The party of former prime minister Imran Khan urged the International Monetary Fund (IMF) to withhold any financial assistance to the country until an independent audit into alleged election fraud is completed.
In a letter to IMF Managing Director Kristalina Georgieva, Pakistan Tehreek-e-Insaf chief, said the Feb. 8 vote was marred by widespread intervention and fraud, and that the government lacked the moral authority and public trust to negotiate with the IMF.
“The PTI does not wish to stand in the way of any IMF facility to the state of Pakistan that promotes the immediate as well as the long-term economic well-being of the country,” Khan wrote. “However, such a facility … can only be negotiated in the best interests of the people of Pakistan by a duly elected government that has the trust of the people of Pakistan.”
The former prime minister also cited the IMF’s own policy on governance issues, which calls for transparency, accountability and the rule of law in member countries.
“… it is noteworthy that the general elections conducted in Pakistan on February 8, 2024, on which public expenditure of about Rs50 billion was incurred, were subjected to widespread intervention and fraud in the counting of votes and compilation of results,” the letter said.
“This intervention and fraud have been so brazen that the IMF’s most important member countries including the U.S., Great Britain, and countries forming part of the European Union have called for a full and transparent investigation into the matter.”
In the last interaction between Khan and IMF representatives in 2023, the PTI had agreed to support the lender’s financing facility for Pakistan on condition that free and fair elections be held in the country. The IMF had sought support from all political parties for its reform agenda.
Khan’s letter comes amid growing protests and legal challenges by the PTI and other parties, who claim the elections were manipulated by the military in favor of the Pakistan Muslim League-Nawaz.
The IMF, which has a $3 billion loan program with Pakistan that expires in April, has not commented on the election controversy.
Pakistan’s economy is struggling to stabilize after securing the IMF standby loan in July 2023, with record inflation, rupee devaluation and shrinking foreign reserves. The IMF has recently showed its willingness to work with the new administration.
Analysts say a new coalition government – which three-time prime minister Nawaz Sharif’s party is expected to lead – is likely to need more funds from the global lender after the current program ends.
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