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| India-Pakistan |
| Pakistan set to approach IMF for loan |
| 2008-11-13 |
| Pakistan will join the countries which have approached the International Monetary Fund (IMF) for a loan in the face a global financial crisis. Shaukat Tareen, a finance adviser to the Pakistani prime minister, informed the Senate on Tuesday that Islamabad would approach IMF in two weeks. Tareen added that the country would have to 'swallow the bitter pill'. Pakistan has been exploring other sources in order to avoid IMF conditions, but the efforts were met with failure. Prime Minister Yousuf Raza Gilani had earlier said Pakistan could avoid IMF assistance if it could receive billions of dollars in aid from its allies. Islamabad is seeking USD 10b to USD 15b to retrieve its ailing economy and avoid defaulting on international debts. This is while the country is facing balance of payment crisis with plunging foreign exchange reserves and high inflation. An aid package from the IMF is likely to require deep spending cuts and tax increases that could take its toll form low-income people in Pakistan and escalate public discontent. |
| Posted by:Fred |
| #3 #2: We want Blinky's head as collateral. But only if they promise to keep the rest of him... |
| Posted by: Old Patriot 2008-11-13 19:29 |
| #2 We want Blinky's head as collateral. |
| Posted by: mojo 2008-11-13 17:21 |
| #1 "We'll think it over carefully. Ah, yes, we've considered it and decided it would be in our best interests to let your shithole degrade back to the eighth century domain you desire. And, don't call us, we'll call you if we change our minds. Maybe you should speak again with your masters in the Magic Kingdom." |
| Posted by: Woozle Elmeter 2700 2008-11-13 11:08 |