Pakistan Requests IMF Aid
Dominique Strauss-Kahn, managing director of the International Monetary Fund, just issued a statement today about Pakistan's request for aid:
"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 as a result of high food and fuel prices and the global financial crisis. A Fund mission will begin discussions with the authorities in the next few days on a program aimed at strengthening economic stability and enhancing confidence in the financial system. The amount of Fund financing under a Stand-By Arrangement has yet to be determined. Financing could be made within framework of the Fund's Emergency Financing Mechanism."
--Anthony Faiola
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Sara Goo
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October 22, 2008; 10:01 AM ET
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Posted by: Anonymous | October 22, 2008 10:12 AM | Report abuse
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The fed is giving the wealthy time to insulate themselves from the harsh times to come. Thank you taxpayers and thank you lackeys ( congress ). The rich shall contribute to your next election in appreciation