Loan to boost Pakistan’s economy

Pakistan’s central bank says it has received $500m from the Asian Development Bank.

Pakistan says it needs $7bn to avoid economic failure [AFP]
Pakistan says it needs $7bn to avoid economic failure [AFP]

The Pakistani government has said that it needs $7bn to avoid bankruptcy.

The United States, which considers Pakistan an ally in its “war on terror”, is also pledging more economic support.

Pakistan is also seeking assistance from Saudi Arabia.

Source: News Agencies

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Until 11 September 2001, Pakistan was kept at arm’s length by most western nations for its backing of Afghanistan’s Taliban and the Islamic fighters challenging Indian control over the Himalayan state of Kashmir.

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