Pakistan Asks IMF for Financial Assistance

Facing continued problems meeting its financial obligations and struggling with an unstable economy Pakistan has asked the International Monetary Fund for assistance to stem the current downturn.

In a statement released by IMF managing director Dominique Strauss-Kahn, “The Pakistani authorities have requested discussions with the IMF on an economic program supported by financial assistance from the fund to meet the balance of payments difficulties the country is experiencing.”

Pakistan has been hit hard by rising food and fuel prices as well as a lack of foreign investors in the country. Investors have shied away from Pakistan due to the continued presence of terrorism that has left the country unstable.

The decision to ask the IMF for assistance was only made after Pakistan’s traditional allies, China and Saudi Arabia, refused to help.

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