Crisis-hit Pakistan's army chief seeks US help in quick release of IMF funds - sources

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ISLAMABAD : Pakistan's powerful army chief appealed to Washington to use its leverage to secure the early release of International Monetary Fund money, Pakistani sources said on Friday, as the South Asian nation struggles to stave off an economic crisis.Pakistan's foreign office confirmed a phone conversa

ISLAMABAD : Pakistan's powerful army chief appealed to Washington to use its leverage to secure the early release of International Monetary Fund money, Pakistani sources said on Friday, as the South Asian nation struggles to stave off an economic crisis.

Islamabad and the IMF reached a staff-level agreement earlier this month to pave the way for the release of a tranche of $1.17 billion - but the lender is awaiting approval from its board, which is not scheduled to meet until late August. "We can't say what was the Americans' response but we think it is a good move to make at this critical stage," the source said.

 

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