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Ishaq Dar befitting response to IMF : Govt seeks major IMF shareholders’ help for $7bn plan

HAIDER

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Look at his face , how humble he is now ... sara kass baal nikal gai ... lol

Govt seeks major IMF shareholders’ help for $7bn plan

Khaleeq Kiani Published December 7, 2022 Updated 2 days ago




53
Finance Minister Ishaq Dar in talks with US Ambassador Donald Blome.—PPI

Finance Minister Ishaq Dar in talks with US Ambassador Donald Blome.—PPI
LISTEN TO ARTICLE1x1.2x1.5x
ISLAMABAD: Pakistan on Tuesday engaged three major International Monetary Fund (IMF) shareholders for support in seeking $7 billion economic bailout package and quashed rumours about any imminent financial emergency in an attempt to pacify jittery markets.
Finance Minister Ishaq Dar and his team had back-to-back meetings with Islamabad-based top diplomats of the US, China, and the UK, having 16.5 per cent, 6.08pc and 4.03pc voting rights in that order, and took them into confidence over the economic challenges mostly caused by exogenous factors and difficulties in dealing with IMF staff.
Japan, Germany, and France are three other leading voting powers in IMF’s executive board with 6.14pc, 5.31pc and 4.03pc votes.
Rejects rumours about financial emergency
The diplomats and the markets were assured that Pakistan was committed to the IMF programme despite all the difficulties and there was no truth to the economic emergency in the offing.
While hinting at energy conservation measures in the offing, the finance minister appeared to be dispelling an impression arising out of one of his interviews that IMF was behaving abnormally in seeking forward-looking benchmarks for next quarter and he would not beg IMF as all conditions of the ninth review had been completed.
The economic team that also included Special Assistant to the PM on Finance Tariq Bajwa and Finance Secretary Hamed Yaqoob Shaikh had separate meetings with US Ambassador Donald Blome, Chinese Ambassador Nong Rong and British High Commissioner Christian Turner along with UNDP consultant Sir Michael Barber on Tuesday.
Separately, the finance ministry ‘strongly’ rebutted rumours about economic emergency proposals in social media and ‘categorically’ denied there was any planning to impose economic emergency.
“The message is unfortunately aimed at creating uncertainty about the economic situation in the country and can only be spread by those who do not want to see Pakistan prosper,” the ministry stated.
It was far-fetched and quite inappropriate to equate Pakistan with Sri Lanka, given inherent strength and diversity in Pakistan’s economy.
“The present difficult economic situation is mainly the result of exogenous factors like commodity super-cycle, Russia-Ukraine war, global recession, trade headwinds, Fed’s increase in policy rates and devastation wreaked by unprecedented floods,” the statement elaborated.
It said austerity measures would eliminate non-essential expenditure and the ministry was deliberating on energy conservation to reduce the import bill.
“Such deliberations will continue in the cabinet and all decisions will be taken in consultation with all stakeholders and in the best national interest,” it said, adding that negotiations with the IMF on ninth review were “now at an advanced stage”.
Published in Dawn, December 7th, 2022
 

Horse_Rider

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Look at his face , how humble he is now ... sara kass baal nikal gai ... lol

Govt seeks major IMF shareholders’ help for $7bn plan

Khaleeq Kiani Published December 7, 2022 Updated 2 days ago




53
Finance Minister Ishaq Dar in talks with US Ambassador Donald Blome.—PPI

Finance Minister Ishaq Dar in talks with US Ambassador Donald Blome.—PPI
LISTEN TO ARTICLE1x1.2x1.5x
ISLAMABAD: Pakistan on Tuesday engaged three major International Monetary Fund (IMF) shareholders for support in seeking $7 billion economic bailout package and quashed rumours about any imminent financial emergency in an attempt to pacify jittery markets.
Finance Minister Ishaq Dar and his team had back-to-back meetings with Islamabad-based top diplomats of the US, China, and the UK, having 16.5 per cent, 6.08pc and 4.03pc voting rights in that order, and took them into confidence over the economic challenges mostly caused by exogenous factors and difficulties in dealing with IMF staff.
Japan, Germany, and France are three other leading voting powers in IMF’s executive board with 6.14pc, 5.31pc and 4.03pc votes.

The diplomats and the markets were assured that Pakistan was committed to the IMF programme despite all the difficulties and there was no truth to the economic emergency in the offing.
While hinting at energy conservation measures in the offing, the finance minister appeared to be dispelling an impression arising out of one of his interviews that IMF was behaving abnormally in seeking forward-looking benchmarks for next quarter and he would not beg IMF as all conditions of the ninth review had been completed.
The economic team that also included Special Assistant to the PM on Finance Tariq Bajwa and Finance Secretary Hamed Yaqoob Shaikh had separate meetings with US Ambassador Donald Blome, Chinese Ambassador Nong Rong and British High Commissioner Christian Turner along with UNDP consultant Sir Michael Barber on Tuesday.
Separately, the finance ministry ‘strongly’ rebutted rumours about economic emergency proposals in social media and ‘categorically’ denied there was any planning to impose economic emergency.
“The message is unfortunately aimed at creating uncertainty about the economic situation in the country and can only be spread by those who do not want to see Pakistan prosper,” the ministry stated.
It was far-fetched and quite inappropriate to equate Pakistan with Sri Lanka, given inherent strength and diversity in Pakistan’s economy.
“The present difficult economic situation is mainly the result of exogenous factors like commodity super-cycle, Russia-Ukraine war, global recession, trade headwinds, Fed’s increase in policy rates and devastation wreaked by unprecedented floods,” the statement elaborated.
It said austerity measures would eliminate non-essential expenditure and the ministry was deliberating on energy conservation to reduce the import bill.
“Such deliberations will continue in the cabinet and all decisions will be taken in consultation with all stakeholders and in the best national interest,” it said, adding that negotiations with the IMF on ninth review were “now at an advanced stage”.
Published in Dawn, December 7th, 2022

So they secured $ 3.4 billion from KSA. Now engaging the IMF shareholders vs. the lower staff speaks well for Pakistan. It also means no default. By passing the entire body and engaging shareholders also means your "pull" and it's a good thing. KSA also committed more stability measures. So once things get moving, Pakistan then needs to start progressing forward. Hopefully there is no one to derails the policies this time so whoever gets elected, can work and focus only on Pakistan's growth.
 

HAIDER

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So they secured $ 3.4 billion from KSA. Now engaging the IMF shareholders vs. the lower staff speaks well for Pakistan. It also means no default. By passing the entire body and engaging shareholders also means your "pull" and it's a good thing. KSA also committed more stability measures. So once things get moving, Pakistan then needs to start progressing forward. Hopefully there is no one to derails the policies this time so whoever gets elected, can work and focus only on Pakistan's growth.
I think US and all financial institutions want Pakistan to default and I think it's good for Pakistan. It may help to curb the massive corruption and our elite enjoying billions of dollars of perks, which they are not willing to surrender and we also can refurbish our finances according to our needs.
 

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I think US and all financial institutions want Pakistan to default and I think it's good for Pakistan. It may help to curb the massive corruption and our elite enjoying billions of dollars of perks, which they are not willing to surrender and we also can refurbish our finances according to our needs.
Default will not automatically lead to good governance. Otherwise, Argentina, Brazil, Lebanon, Sri Lanka would be like Sweden and Denmark.
 

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I think US and all financial institutions want Pakistan to default and I think it's good for Pakistan. It may help to curb the massive corruption and our elite enjoying billions of dollars of perks, which they are not willing to surrender and we also can refurbish our finances according to our needs.

Your post makes zero sense. Defaulting on international obligations is "good" for Pakistan? And where are you seeing "massive corruption" by the elites? Outside of various corruption scandals coming out about IK? (just yesterday another audio leak on selling state of Pakistan's treasury watches that are super expensive and rare)?

Which "elite" is enjoying billions of dollars of perks? Do you see how IK's been acting like? How a fish acts when taken out of water? Why? They are ALL greedy. So kindly put some comprehension and logic into posts when talking about sensitive matters like national obligations, default, etc. I don't get into politics but your post belonged to one of those forums.
 

HAIDER

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Your post makes zero sense. Defaulting on international obligations is "good" for Pakistan? And where are you seeing "massive corruption" by the elites? Outside of various corruption scandals coming out about IK? (just yesterday another audio leak on selling state of Pakistan's treasury watches that are super expensive and rare)?

Which "elite" is enjoying billions of dollars of perks? Do you see how IK's been acting like? How a fish acts when taken out of water? Why? They are ALL greedy. So kindly put some comprehension and logic into posts when talking about sensitive matters like national obligations, default, etc. I don't get into politics but your post belonged to one of those forums.
PMLN has govt punish him ... but who will punish PMLN, PPP or JUIF for ages of corruption or our bureaucracy, establishment etc ... you are just crying over a watch ...but you don t see his social work in Pakistan. At least he honestly and publicly admit he sold the watch and build the road in Bani Gala used by the public.
Also Nawaz, Mariam and Zardari toshakhana SUVs and other expensive items ... no cases
Who will punish Zardari for billions of Omni Group corruption, Nawaz Avenfield, Hudabia paper mill, Shahbaz and son 25 billion TT scandals ...and this list goes on and on ...
Which elite ? you don t know ?


Elite privilege consumes $17.4bn of Pakistan’s economy: UNDP​

In an exclusive interview with Al Jazeera, UNDP’s Kanni Wignaraja says Pakistani leaders have promised action over the damning UN report.

Kanni-Wignaraja-Profile.jpg

UNDP Assistant Secretary-General Kanni Wignaraja [Handout photo]
By Asad Hashim
Published On 13 Apr 202113 Apr 2021
Islamabad, Pakistan – Economic privileges accorded to Pakistan’s elite groups, including the corporate sector, feudal landlords, the political class and the country’s powerful military, add up to an estimated $17.4bn, or roughly 6 percent of the country’s economy, a new United Nations report has found.
Released last week, the UN Development Programme’s (UNDP) National Human Development Report (NHDR) for Pakistan focuses on issues of inequality in the South Asian country of 220 million people
 
Last edited:

Horse_Rider

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PMLN has govt punish him ... but who will punish PMLN, PPP or JUIF for ages of corruption or our bureaucracy, establishment etc ... you are just crying over a watch ...but you don t see his social work in Pakistan. At least he honestly and publicly admit he sold the watch and build the road in Bani Gala used by the public.
Who will punish Zardari for billions of Omni Group corruption, Nawaz Avenfield, Hudabia paper mill, Shahbaz and son 25 billion TT scandals ...and this list goes on and on ...
Which elite ? you don t know ?


Elite privilege consumes $17.4bn of Pakistan’s economy: UNDP​

In an exclusive interview with Al Jazeera, UNDP’s Kanni Wignaraja says Pakistani leaders have promised action over the damning UN report.

Kanni-Wignaraja-Profile.jpg

UNDP Assistant Secretary-General Kanni Wignaraja [Handout photo]
By Asad Hashim
Published On 13 Apr 202113 Apr 2021
Islamabad, Pakistan – Economic privileges accorded to Pakistan’s elite groups, including the corporate sector, feudal landlords, the political class and the country’s powerful military, add up to an estimated $17.4bn, or roughly 6 percent of the country’s economy, a new United Nations report has found.
Released last week, the UN Development Programme’s (UNDP) National Human Development Report (NHDR) for Pakistan focuses on issues of inequality in the South Asian country of 220 million people

You should go join some political forum. You do realize PTI's entire membership comes under this same "elite" class right?
 

HAIDER

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Damn

This means luxury and ayaashiyan continue, no problem in supporting protocols, luxury buffets and lavish trips abroad
They been sucking blood last 75 years.

You should go join some political forum. You do realize PTI's entire membership comes under this same "elite" class right?
ok , kid ..now get off your horse and have a reality check..this is a political forum ... A political forum
 

ziaulislam

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Govt seeks major IMF shareholders’ help for $7bn plan

Khaleeq Kiani Published December 7, 2022 Updated 2 days ago




53
Finance Minister Ishaq Dar in talks with US Ambassador Donald Blome.—PPI

Finance Minister Ishaq Dar in talks with US Ambassador Donald Blome.—PPI
LISTEN TO ARTICLE1x1.2x1.5x
ISLAMABAD: Pakistan on Tuesday engaged three major International Monetary Fund (IMF) shareholders for support in seeking $7 billion economic bailout package and quashed rumours about any imminent financial emergency in an attempt to pacify jittery markets.
Finance Minister Ishaq Dar and his team had back-to-back meetings with Islamabad-based top diplomats of the US, China, and the UK, having 16.5 per cent, 6.08pc and 4.03pc voting rights in that order, and took them into confidence over the economic challenges mostly caused by exogenous factors and difficulties in dealing with IMF staff.
Japan, Germany, and France are three other leading voting powers in IMF’s executive board with 6.14pc, 5.31pc and 4.03pc votes.

The diplomats and the markets were assured that Pakistan was committed to the IMF programme despite all the difficulties and there was no truth to the economic emergency in the offing.
While hinting at energy conservation measures in the offing, the finance minister appeared to be dispelling an impression arising out of one of his interviews that IMF was behaving abnormally in seeking forward-looking benchmarks for next quarter and he would not beg IMF as all conditions of the ninth review had been completed.
The economic team that also included Special Assistant to the PM on Finance Tariq Bajwa and Finance Secretary Hamed Yaqoob Shaikh had separate meetings with US Ambassador Donald Blome, Chinese Ambassador Nong Rong and British High Commissioner Christian Turner along with UNDP consultant Sir Michael Barber on Tuesday.
Separately, the finance ministry ‘strongly’ rebutted rumours about economic emergency proposals in social media and ‘categorically’ denied there was any planning to impose economic emergency.
“The message is unfortunately aimed at creating uncertainty about the economic situation in the country and can only be spread by those who do not want to see Pakistan prosper,” the ministry stated.
It was far-fetched and quite inappropriate to equate Pakistan with Sri Lanka, given inherent strength and diversity in Pakistan’s economy.
“The present difficult economic situation is mainly the result of exogenous factors like commodity super-cycle, Russia-Ukraine war, global recession, trade headwinds, Fed’s increase in policy rates and devastation wreaked by unprecedented floods,” the statement elaborated.
It said austerity measures would eliminate non-essential expenditure and the ministry was deliberating on energy conservation to reduce the import bill.
“Such deliberations will continue in the cabinet and all decisions will be taken in consultation with all stakeholders and in the best national interest,” it said, adding that negotiations with the IMF on ninth review were “now at an advanced stage”.
Published in Dawn, December 7th, 2022
What exogenous???
Inflation is coming down already peaked.
So i have no idea what is he talkinh about
Oil has dropped to normal levels of 70$.
It was 120s earlier this yr
 

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