IMF decides to review Pak budget prospects

The meeting comes after reports of Pakistan asking the IMF to ease the terms of a $10b loan it received in 2008.


Express August 23, 2010

In the wake of catastrophic flooding in Pakistan, the International Monetary Fund (IMF) has decided to review Pakistan’s budget and economic prospects.

The meeting comes after reports of Pakistan asking the IMF to ease the terms of a $10 billion loan it received in 2008.

Masood Ahmed, director of the IMF’s Middle East and Central Asia department, suggested that Pakistan's budget and macro-economic prospects need re-evaluation.

He said they will assess the measures Pakistan is taking to address this impact, and discuss ways in which the IMF can assist Pakistan at this difficult juncture.

Finance Minister Abdul Hafeez Shaikh is likely to ask the IMF to restructure the current loan or consider new financing during the meeting.

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