Pakistan seeking at least $7.6 bln IMF loan

Pakistan has asked the International Monetary Fund (IMF) for a loan facility of at least $7.6 billion to stave off a balance of payments crisis and stabalise its economy, the country's top economic adviser said on Saturday.

"Next week we will officially apply and send them a letter of intent," Shaukat Tarin, the recently adviser to the prime minister, told a news conference in Karachi.

Tarin said he expected the IMF to make the first disbursements later this month.