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A Pakistani delegation will leave for Dubai today (Sunday) to meet International Monetary Fund (IMF) officials regarding the second instalment of an IMF loan, a private TV channel reported on Saturday.

The Pakistani delegation would also attend a meeting of the Friends of Pakistan, the channel said.

Finance Secretary Waqar Masood would head the mission and would be later joined by Finance Adviser Shaukat Tareen, the channel said.

According to the channel, the IMF would pay $750 million in the second instalment.

The delegation would brief the IMF officials on the performance of the country’s economy during the past three months, in meetings scheduled between February 16 and February 27.

The channel quoted the finance secretary as saying that all goals set by the IMF for the economy’s improvement had been achieved.

Pakistan was likely to receive the second instalment in March 2008, the channel said.

Plagued by worsening economic situation as a result of massive inflation, Pakistan’s economy was shouldered by the IMF in November 2008 when it approved a $7.6 billion loan for the country.

On November 27, Pakistan received the first tranche of the loan of $3.1 billion. The total amount would be delivered in 23 months, which the IMF said would help Pakistan meet the gap in its current account balance for next two years.


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