IMF, World Bank & IFI Round-Up

The IMF and Pakistan have agreed to an assistance package worth USD 7.6 billion to help the country combat the worst effects of the global financial turmoil. IMF staff and Pakistani authorities reached the agreement on the 23-month standby arrangement on Nov. 15, according to the Fund, which said the package falls under the institution's emergency financing mechanism procedures. IMF Managing Director Dominique Strauss-Kahn said the agreement had been struck after Pakistan developed a policy package to help the country meet its serious balance of payments difficulties.

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