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IMF wants Pak Prez to endorse new bailout plan: Report

Press Trust of India  |  Islamabad 

"Active political support is required at the highest level to implement essential reforms in Pakistan ... It will be worthwhile to consider the President for co-signing the letter of intent (for any future arrangement)," IMF's post-evaluation draft report for a new 11.3-billion dollar bailout programme was quoted as saying by The Express Tribune.

A letter of intent states the policies a borrowing country intends to implement with the help of its financial assistance.

It is a standard practice for a recipient country

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IMF wants Pak Prez to endorse new bailout plan: Report

The International Monetary Fund wants President Asif Ali Zardari to endorse a new bailout programme for Pakistan as it is wary of inadequate reforms and under-utilisation of resources in the past, a media report said today.

"Active political support is required at the highest level to implement essential reforms in Pakistan ... It will be worthwhile to consider the President for co-signing the letter of intent (for any future arrangement)," IMF's post-evaluation draft report for a new 11.3-billion dollar bailout programme was quoted as saying by The Express Tribune.

A letter of intent states the policies a borrowing country intends to implement with the help of its financial assistance.

It is a standard practice for a recipient country image