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Imran supports IMF’s role in Pakistan

Former Prime Minister Imran Khan has stated his confidence in returning to the office this year and has stated his support for the International Monetary Fund (IMF) continuing to play a role in bolstering the economy and preventing a debt default.

In an interview with Bloomberg, the PTI chairman stated that he expected to win a majority when elections were held.

He claims to be working on a “radical” strategy to shore up an economy that he expects would be considerably worse by then.

“If we go into power, we won’t have much time,” the 70-year-old lawmaker remarked from his Lahore home, where he is recovering from a leg injury suffered when he was wounded during a protest in November.

When asked if he planned to continue with the IMF, whose agreement for $6.5 billion in lending to Pakistan has been repeatedly delayed, he answered, “We have no alternative anymore.”

The South Asian country has been dangerously close to default in recent months, with bond rates reaching crisis levels as IMF loan payments have been delayed.

Prime Minister Shehbaz Sharif, Imran’s successor, has been wary of the fund’s demands, such as boosting energy costs and taxes. Since October, Pakistan’s foreign-exchange reserves have fallen by half, and they are now insufficient to cover one month’s imports.
The country is still recovering from the effects of last year’s terrible flooding, as well as suffering from rising prices.

“We will have to develop policies in our country like never before,” Imran stated. “We dread a Sri Lanka-type crisis,” he remarked, referring to Pakistan’s regional neighbor’s default.

He stated that he would re-appoint Shaukat Tarin as finance minister, a position he held in the previous administration.

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