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Subject: Pakistan's Economy Won't Slow Because of Earthquake, IMF Says
helix26    10/18/2005 12:49:56 PM
Oct. 18 (Bloomberg) -- The International Monetary Fund said Pakistan's economic growth this year won't slow because of the Oct. 8 earthquake though the country will face challenges in meeting budgetary targets. ``Pakistan's government, donors and lenders will be tested on meeting budgetary targets and we are ready to assist,'' the IMF Managing Director Rodrigo de Rato told reporters yesterday evening after meeting Prime Minister Shaukat Aziz. Pakistan won't seek IMF loans, or cancellation of the lender's previous loans to offset the financial impact of the earthquake, Aziz told reporters at the joint news conference in Islamabad. The 7.6 magnitude earthquake has killed more than 41,000 people and injured about 67,000 in Pakistan's northern regions of Kashmir, North West Frontier province and the capital Islamabad. Pakistan may need as much as $5 billion in the next five to 10 years to rebuild the affected regions and help the survivors, Aziz has said. Financial assistance pledged to Pakistan by other countries and donors to reconstruct the quake-affected areas stands at $528 million, Pakistan's government said on Sunday. Pakistan may seek more funds as part of earthquake relief assistance from a group of donor countries at their United Nations organized meeting in Geneva on Oct. 24, Aziz said. The South Asian nation estimates the country's $110 billion economy will expand as much as 8 percent this fiscal year started July 1, compared with 8.4 percent last year.
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trustedsourceofinfo    RE:Pakistan's Economy Won't Slow Because of Earthquake, IMF Says   10/20/2005 3:33:48 AM
Its not suprising to me! The damage in Islamabad is quite inconsequential compared to pakistan KAshmir.. It should be clear that Pakistan KAShmir hasnt integrated 'at all' within the Pakistan economy...No buildings,industries of any kind have been damaged cos they never existed there.. there were mostly terrorist camps out there... So obviously no harm done to the Pakistan economy.Whether the General and his coterie use this aid money to rebuild Pakistan KAshmir is yet to be seen... Apparently not even a basic road structure was in place in Pakistan Kashmir...getting relief has ben hampered bcos of that...The terrain is rough but a bare minimum travel infrastructure could have been put in place.. I really do not know the amount of damage done to property in NWFP!
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