Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Monish Shelat who wrote (49602)	3/3/1999 2:17:00 PM
From: yard_man	Respond to of 132070

Thanks -- I'll have to look that up Monish ...

To: Monish Shelat who wrote (49602)	3/3/1999 2:19:00 PM
From: yard_man	Respond to of 132070

You are right, Monish. Pakistan Says Economy on the Mend ISLAMABAD, Pakistan (AP) - Pakistan has met economic performance targets set by the International Monetary Fund and its battered economy is on the mend, Finance Minister Ishaq Dar said today. ''An IMF mission was in town to review the economy ... and it has returned to Washington satisfied with Pakistan's performance,'' Dar told reporters. Pakistan has received a $1.6 billion loan over the next two years from the IMF in a deal to bail out its troubled economy. The Paris Club of international lenders also helped the nation last month by restructuring Pakistan's debts and giving the country a $3.3 billion loan. Pakistan, whose economy is heavily dependent on foreign aid, was in serious trouble last May after it exploded underground nuclear tests and incurred the wrath of lending countries, most notably the United States. However, the U.S. administration agreed it would not block loans to Pakistan after this mostly Muslim nation came close to defaulting on its deficit payments. The IMF imposed stiff conditions on Pakistan's loans, demanding increases in revenue collection, reduction in expenses, enhanced tax base, and reduced government bank borrowing. Pakistan's performance is being reviewed every three months, before each fresh injection of international money.