IMF to Help Pakistan

Pakistan's new agreement with the International Monetary Fund over a $7.6 billion loan may lead to more help from other donors.

But the IMF's package falls well short of the $10 billion to $15 billion that Pakistani officials have said they need over the next two years to fix the economy.

Some of that shortfall will be made up by loans from the World Bank and Asian Development Bank. The IMF will deliver $4 billion – the amount Pakistan says it needs immediately to avoid defaulting – this year, with the rest to be disbursed in 2009, said Shaukat Tarin, an economic adviser to Pakistan's prime minister.

Via WSJ