Friday 20 February 2009

Pakistan aims to extend emergency loan

Shaukat Tarin, the de facto Pakistan finance minister, has said he would seek an increase in the size of the emergency loan extended by the IMF to $12bn (€9.5bn, £8.4bn) from $7.6bn, due to growing economic pressures and adverse internal security conditions.

Pakistani officials and the IMF are meeting in Dubai from Feburary 14 to February 26 for talks on the first review of the loan, which was approved in November.

Officials have said fears tied to the effects of a growing Taliban led insurgency in the northern regions along the Afghan border continue to fuel a flight of capital from the country.

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