Friday, November 14, 2008

Pakistan formally submits letter of intent to the IMF


ISLAMABAD: Pakistan has asked the International Monetary Fund for a $9 billion bailout along with help from other lenders to avert a balance of payments crisis and in this regard Pakistan has formally submitt letter of intent to IMF here Saturday, said sources.Pakistan asking $9 billion from the IMF and IMF most probably can give us up to $7.6 billion to Pakistan for four years said sources.Sources also informd that IMF is providing this loan for four years interst rate of 4 percent



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