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Islamic Finance Briefing - Categorized | Finance, Financial Instruments (Credit Cards, Debts, Loans, Mort more

Pakistan asks IMF for $4bln to plug budget deficit

Posted on 15 June 2009

From Dawn.com: Pre-empting possible delays in external flows, Pakistan has asked the International Monetary Fund (IMF) for a $4 billion stand-by loan to finance the yawning budget gap in the year 2009-10 in case multilateral donors fail to release the pledged amount to Islamabad.

‘This facility is insurance, which can be used in case the assistance from the multilateral donors or friendly countries delayed or does not arrive,’ Adviser to Prime Minister on Finance and Revenue Shaukat Tarin told newsmen in the post-budget press conference here on Sunday………Full Article: Source

 
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