IMF Letter Paves Way for ADB Loan to Pakistan

The International Monetary Fund sent a letter of comfort to the Asian Development Bank, which would allow the latter to extend a program loan of USD500 million to rescue Pakistan’s dwindling foreign reserves. The World Bank opted to provide project loans and hence does not require such letter. (“IMF extends letter of comfort to ADB for USD500m loan to Pakistan” - News, Sept. 18, 2008

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