Imran supports the IMF’s involvement: Imran Khan, a former prime minister, has expressed confidence in winning re-election this year and stated he would support the International Monetary Fund (IMF) continuing its role in supporting the economy and preventing an increasing risk of a debt default.
In an interview with Bloomberg, the PTI chairman stated that he anticipated winning a majority in the upcoming elections.
He claimed to be working on a “radical” plan to support an economy that he believes will be much worse off by that time.
The 70-year-old politician, while speaking at his apartment in Lahore where he’s recovering from a leg injury sustained at a protest in November, added “If we get into power, we won’t have much time.”
When asked if his strategy would involve continuing with the IMF, whose agreement for Pakistan to receive nearly $6.5 billion in loans has experienced numerous delays, he replied, “We have no alternative anymore.
Delaying the IMF loan installments, the South Asian country perilously approached a financial default in recent months, which increased its bond yields to distressed levels.
Prime Minister Shehbaz Sharif, who succeeded Imran, has been suspicious of the fund’s demands, such as increasing taxes and energy prices. Since October, Pakistan’s foreign exchange reserves have fallen by half, and they are currently insufficient to cover imports for one month.
Aside from suffering from rising prices, the nation is still feeling the effects of the disastrous flooding that occurred last year.
Imran stated, “Policies will need to be created like never before in our nation. He made reference to Sri Lanka’s default when he added, “We dread a Sri Lanka-type situation.”
The speaker announced Shaukat Tarin, who previously served as finance minister, as someone he would elevate to the position again.