The International Monetary Fund has said Pakistan was on track for a fresh lending package, but played down its size and denied it was connected to the campaign against terrorism.

The statement came on Monday as the US completed a rescheduling agreement for $379m of bilateral debt with Pakistan and suggested more help was on the way.

Anne Krueger, first deputy managing director at the IMF, said in Washington that Pakistan's likely access to a three-year lending package reflected its commitment to economic reform under its present $560m one-year programme. She was reported as describing as "way off [and] in the wrong ballpark" reports - circulating in Islamabad - that the new package could total $2.5bn.

The US is understood to be drawing up plans to provide Pakistan with economic assistance, including large-scale debt forgiveness. Pakistan is seeking improved market access for textile exports and higher direct investment flows from the US.

Although US officials deny linkage between economic help and Pakistan's pledge to support US military operations against Afghanistan, they privately concede debt relief would help Islamabad justify its pro-US stance to the public.