Press Release No. 08/254

Mr. Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), issued the following statement today on Pakistan:

"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."