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Japan eases debt { September 27 2001 } Original Source Link: (May no longer be active)    http://news.bbc.co.uk/1/hi/business/1567177.stm http://news.bbc.co.uk/1/hi/business/1567177.stm Thursday, 27 September, 2001, 16:48 GMT 17:48 UK Japan eases Pakistan's debt burden 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. "It's very important to support Pakistan, which has made great efforts to support the international community despite various difficulties," said Mr Sugiura, who is in Islamabad on a two-day visit as envoy for Japanese prime minister Junichiro Koizumi. "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.

Cash for cooperation { October 6 2001 } Economic devastation { August 31 2000 } Imf crucial talks { December 2 1999 } Japan eases debt { September 27 2001 } New economic team { October 29 1999 } Pakistan receives more imf money { April 11 2002 } Us pays 300m Wins imf cash { September 26 2001 } World bank chief wolfowitz praises pakistan economy { August 17 2005 } Files Listed: 9

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