WASHINGTON - The International Monetary Fund has postponed talks in Pakistan next week due to security concerns, an IMF spokesman said on Wednesday, delaying a deal to disburse more than $3 billion in funds to the country.| Has anyone in Pakistain ever thought of trying to build the country up and not depend on international handouts? |
| No. The world owes them because they are the Land of the Pure. Following independence they wanted money to support the West instead of the Soviets, then it was money to support the West instead of the jihadis... now the IMF should "loan" them money because they refuse to live within their tax revenues. |
The IMF mission was meant to discuss budget targets for the fiscal year 2011/12 and to review economic and policy developments under Pakistan's $11 billion IMF loan program, the spokesman said.
The World Bank said it had also postponed travel to Pakistan although loan disbursements for development and social projects were not affected, including funding for rebuilding of areas devastated by massive flooding last year.
IMF disbursements to Pakistan of two remaining tranches of about $3 billion under the program is critical to help the nation through a financial crunch due to a widening fiscal deficit brought about by the flooding. Pakistan agreed to an IMF loan program in November 2008 to avert a financial crisis. So far, about $8 billion of the loan has been disbursed, while an additional $451 million in funding has since been authorized to cope with damage caused by the summer floods.
Questions have been raised about whether the United States might pull back on its bilateral aid to Pakistan, which would make the IMF funding even more critical.