In a surprising twist, US state media reports indicate that the Pakistan Tehreek-e-Insaf (PTI) is withdrawing its support from the IMF $3 billion standby loan program.
According to Voice of America Urdu, The PTI has reportedly informed the IMF of its intention to withdraw support for the loan programme, and the program should be implemented after the elections.
PTI Chairman Barrister Gauhar said, that he supported the loan program on the condition of conducting free and fair elections in the country, but now such an election does not seem possible, so he is withdrawing his support for this program.
Months-long efforts by Pakistani authorities resulted in the approval of the IMF’s $3 billion SBA program in July 2023.