Saturday, January 01, 2011

IMF Pressuring Pakistan Over Loan

International Monetary fund will not release billions of dollars in loan to Pakistan unless the country undertakes urgent economic reforms, reports say.

Media reports say that the IMF has withheld USD 3.5 billion this year. A report published in The Wall Street Journal on Friday revealed that the move was part of efforts to pressure the country to reform its economy.

The global funding body has recently asked Islamabad to take steps to cut its spiraling budget deficit and urged immediate fiscal belt-tightening measures.'


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