UPDATE 1-floods in Pakistan "major cause" damage to the economy and the IMF

August 9 (Reuters) - floods in Pakistan, the worst to hit the country in 80 years, is "serious damage to the economy," the International Monetary Fund said Monday that donors and investors' concerns grew the impact of disaster on an already fragile economy .

Torrent "is very likely to seriously affect the economy in terms of lost production and budgetary implications," an IMF spokesman told Reuters. "Under these circumstances, support from the international community is important."

The spokesman did not say if Pakistan can affect the economic impact of $ 11300000000 IMF program, but he said IMF officials were in contact with the authorities to assess the situation.

Pakistan approached the IMF for emergency funds in November 2008 to avoid a crisis of balance of payments and strengthen reserves.

While economic growth has accelerated, Pakistan has struggled to achieve specific objectives in the program, especially the increase in tax revenue to allow more public spending.

The country has been created to receive 1100000000 U.S. dollars under the program after a performance review under the IMF this month.

The spokesman said the IMF Managing Director Dominique Strauss-Kahn said Pakistan President Asif Ali Zardari, the Fund is ready to discuss how to help Pakistan manage the economic impact of floods.

"The staff have been in touch with their Pakistani counterparts to assess the situation and discuss ways to help," he added.

More than 1600 people were killed and about two million left homeless by floods that began 10 days ago, after the monsoon rains in the upper Indus sink has caused havoc in northern Pakistan in the southern province of Sindh.