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IMF board to meet on $7.6b Pakistan credit

The International Monetary Fund board is expected to meet shortly on $7.6 billion in emergency funding for Pakistan, part of bigger rescue plan to address the country's serious balance of payments problems, the IMF said on Saturday.

  • Agencies
  • Published: 18:52 November 15, 2008
  • Gulf News

Washington: The International Monetary Fund board is expected to meet shortly on $7.6 billion in emergency funding for Pakistan, part of bigger rescue plan to address the country's serious balance of payments problems, the IMF said on Saturday.

"This support is part of a broader package that includes financing from other multilateral institutions and regional development banks," IMF Managing Director Dominque Strauss-Kahn said in a statement.

The standby lending facility, which is subject to the IMF Executive Board's approval, is part of an economic programme and would last for 23 months, the IMF said.

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