IMF Executive Board Approves $7.6 Billion Loan To Pakistan
Of DOW JONES NEWSWIRES
WASHINGTON -(Dow Jones)- The International Monetary Fund's executive board cleared the way Monday for a $7.6 billion loan to provide Pakistan with much-needed financing.
The 23-month standby facility is expected to form part of a broader international package to help Pakistan deal with a balance-of-payment crisis. The country needs around $4 billion in short order to pay for its imports and help repay its debt.
Pakistan's de facto finance minister, Shaukat Tarin, has said the country is seeking about $20 billion in loans from various donors over the next two years.
-By Tom Barkley, Dow Jones Newswires; 202-862-9275; tom.barkley@dowjones.com
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(END) Dow Jones Newswires
November 24, 2008 17:44 ET (22:44 GMT)
Publié le 24 novembre 2008 Copyright © 2008 Dowjones
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