|
 |
 | | | | | |||||||||||||||||||||
| | You are in: Business | |||||||||||||||||||||||
 | | Thursday, 27 September, 2001, 16:48 GMT 17:48 UK Japan eases Pakistan's debt burden  Rallies backing the government were held on National Day Pakistan is to get over half a billion dollars in debt rescheduled by Japan, in recognition of its move to back the global "fight against terrorism". Tokyo is also offering $40m in emergency aid, and has agreed to review, if not actually rescind, the sanctions it imposed after Islamabad's tit-for-tat nuclear tests with India in 1998. Even with the sanctions in place, Japan is Pakistan's biggest source of foreign aid. "We can understand that sanctions have made Pakistan's balance of payment situation more grave," said Seiken Sugiura, senior vice minister for foreign affairs. "But this emergency economic assistance will give it more space." Assistance with refugees Japan is also ready to consider further assistance, which could include aircraft to ease delivery of supplies to the more than two million Afghan refugees either within Pakistan or waiting on its borders.
"Japan wishes to stand by Pakistan." IMF help The debt rescheduling represents Pakistan's second economic dividend in two days from President Pervez Musharraf's decision to distance the country from Afghanistan's Taleban rulers. On 26 September, the International Monetary Fund (IMF) approved a $135m cash injection, the final tranche of a $596m loan. The IMF said Pakistan had hit inflation and balance of payments targets set for the loan despite adverse weather and other conditions. Four days earlier, the US had lifted its own sanctions, enabling the IMF to complete its loan programme. | | See also:  Internet links: The BBC is not responsible for the content of external internet sites Top Business stories now:  Links to more Business stories are at the foot of the page. | |||||||||||||||||||||
|
Links to more Business stories |
 | | ^^ Back to top News Front Page | World | UK | UK Politics | Business | Sci/Tech | Health | Education | Entertainment | Talking Point | In Depth | AudioVideo ---------------------------------------------------------------------------------- To BBC Sport>> | To BBC Weather>> ---------------------------------------------------------------------------------- © MMIII|News Sources|Privacy  |
E-mail this story to a friend