Key Pakistani Finance Officials Take Part in IMF Talks

Senior Pakistani finance officials on Aug. 26 joined talks with the International Monetary Fund to find ways to boost the Islamic nation’s economy amid the massive flooding.

The negotiations are exploring options that seek to beef up the Pakistani economy through lowering fiscal targets set for an IMF loan program and drawing financing from the fund’s facility for countries hit by disasters.

The talks are “ongoing at a technical level and are focused on getting a better sense of the impact of the floods on the economy,” said IMF spokesman Gerry Rice.

The negotiations are expected to last until late next week. Pakistani officials are also due to meet with World Bank President Robert Zoellick on Sept. 1, a World Bank spokesman told Reuters.

About the author

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    Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.