White House institutes daily Intel brief on global economic crisis

Washington:  In addition to the daily intelligence brief, which covers terrorist threats and other national security issues, President Obama, along with senior administration officials, has begun receiving a daily brief from the CIA on the global economic crisis, according to the spy agency's director Leon E. Panetta. The newly instituted brief reflects concerns in the US administration that the ongoing financial turmoil could destabilize governments and trigger instability overseas.

The report, called the ''Economic Intelligence Brief,'' has been instituted at the request of the White House and was delivered for the first time on Wednesday.

According to the director, CIA, the document would focus on how the economic downturn overseas is affecting decision making in nations, including Russia and China.

The report covers "economic, political, leadership developments" in other countries as well as "the implications of those developments in terms of the US economy," Panetta said.

Director of National Intelligence, Adm. Dennis C. Blair (retd) testified on Capitol Hill on Wednesday that economic instability "can loosen the fragile hold that many developing countries have on law and order."

Already, Adm. Blair said, several European governments have been destabilized by economic distress and "much of Eurasia, Latin America and sub-Saharan Africa lack sufficient cash reserves and access to international aid."

Panetta made his revelations in the course of his first meeting with the media since he was sworn in as CIA director last week. The former California congressman served as chief of staff in the Clinton White House.

He has met senior Pakistani military and intelligence officials in Washington this week and told the Press meet that he voiced concern over the Islamic Republic's recent decision to strike a truce with militants in the Swat Valley region. He informed reporters that Pakistani officials defended the deal as being necessary as it would allow them to focus on the pursuit of al Qaeda and Taliban militants along the Afghan border.

When queried about his response, Panetta said, "I remain skeptical."

Panetta met Pakistani army chief Gen. Ashfaq Kayani, as well as Lt Gen Ahmed Shuja Pasha, the head of Pakistan's spy service, Inter-Services Intelligence at the CIA headquarters.

The two officials are part of a larger delegation which includes Pakistan's foreign minister, Shah Mehmood Qureshi. The delegation has been interacting with senior Obama administration officials. It is learnt that they have asked the United States to provide unmanned aircraft for use against extremists operating along the border.