IMF officials conclude first round of talks to bail out Pakistan

الخميس 1429/11/1 هـ الموافق 2008/10/30 م واس
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Islamabad, October 30, SPA -- The International Monetary Fund (IMF) on Thursday concluded the first round of technical talks in Dubai with
Pakistani officials about creating a system to save the south Asian
nation from economic collapse, officials said according to dpa.
Pakistan's government is facing a tightening balance of payments.
Its financing gap stands at around 7 billion dollars for the current
fiscal year, which ends June 30, 2009.

"There are one or two points on which both sides could not evolve
consensus," said a senior official, who was part of the returning
Pakistani delegation on Thursday.
The official, who refused to be named, said to dpa that the IMF was insisting
on raising discount rates by 3 to 4 per cent above the existing 13
per cent, in order to curtail inflation, which currently stands at
over 30 per cent.
--SPA