PAKISTAN HOPES TO EXTEND IMF LOANS

Pakistan is to ask the International Monetary Fund (IMF) to ease conditions on a $10bn (£6.4bn) loan it received in 2008 in light of the floods that have made 4m people homeless. The country’s finance minister will travel to Washington next week in a bid to delay repayments until the effects of the devastating floods have eased. The US pledged an extra $60m to fund the humanitarian response yesterday.