10-23-2010, 12:20 PM
ISLAMABAD (October 23, 2010) : The Inter-national Monetary Fund (IMF) has dispelled the impression that it is extending a loan to Pakistan, under pressure from America. Business Recorder had sent a question to the IMF's Senior Advisor, external relations department, David Hawley, that there was an impression in Pakistan's official quarters that the IMF always extends support to Pakistan, in response to pressure from Washington.
"The answer is straightforward. We extend loans to our member countries at their request. The agreement to give a loan and the size of the loan is dependent on the quality of the economic policies. And that describes exactly the circumstances in which the current standby arrangement has been agreed and disbursed with Pakistan," he stated. According to him, REO for the Middle East, North Africa, Afghanistan, and Pakistan will be launched in Dubai on Sunday, October 24.
"The answer is straightforward. We extend loans to our member countries at their request. The agreement to give a loan and the size of the loan is dependent on the quality of the economic policies. And that describes exactly the circumstances in which the current standby arrangement has been agreed and disbursed with Pakistan," he stated. According to him, REO for the Middle East, North Africa, Afghanistan, and Pakistan will be launched in Dubai on Sunday, October 24.