Pakistan seeking at least $7.6 bln IMF loan: adviser

Business Materials 15 November 2008 14:03 (UTC +04:00)

Pakistan has asked the International Monetary Fund (IMF) for a loan facility of at least $7.6 billion to stave off a balance of payments crisis and stabilize its economy, the country's top economic adviser said on Saturday.

"Next week we will officially apply and send them a letter of intent," Shaukat Tarin, the recently adviser to the prime minister, told a news conference in Karachi, reported Reuters.

Tarin said he expected the IMF to make the first disbursements later this month.