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IMF chief confirms Pakistan seeking bailout

By Khalid Hasan

WASHINGTON: Dominique Strauss-Kahn, managing director of the International Monetary Fund (IMF), said on Wednesday that the Fund will begin discussions with Pakistan within the next few days on a programme aimed at strengthening the country’s economic stability.
The IMF chief said in a statement, "The Pakistani authorities have requested discussions with the IMF on an economic programme supported by financial assistance from the Fund to meet the balance of payments difficulties the country is experiencing as a result of high food and fuel prices and the global financial crisis. A Fund mission will begin discussions with the authorities in the next few days on a programme aimed at strengthening economic stability and enhancing confidence in the financial system. The amount of Fund financing under a Stand-By Arrangement has yet to be determined. Financing could be made within (the) framework of the Fund's Emergency Financing Mechanism.”

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