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PM urges world to think of 'debt-write offs' to help nations like Pakistan cope with virus

ARMalik

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https://www.dawn.com/news/1541620/p...to-help-nations-like-pakistan-cope-with-virus

PM urges world to think of 'debt-write offs' to help nations like Pakistan cope with virus

"The world community has to think of some sort of a debt write-off for countries like us, which are very vulnerable, at least that will help us in coping with (the coronavirus)."

He also called for lifting sanctions against Iran, the epicentre of the coronavirus outbreak in the Middle East.

The premier sat down with AP at his office in Islamabad. He'd spent much of his day meeting experts about the effect of the coronavirus outbreak in Pakistan, which has confirmed 193 cases so far.

He said that if a serious outbreak of the pandemic happens in Pakistan, he is worried that his government's efforts to lift the ailing economy out of near-collapse would begin an unstoppable slide backward.

Exports would fall off, unemployment would soar and an onerous national debt would become an impossible burden. Pakistan secured a $6 billion bailout from the International Monetary Fund last year.

"It's not just Pakistan. I would imagine the same in India, in the subcontinent, in African countries," he said, referring to the virus.

"If it spreads, we will all have problems with our health facilities. We just don't have that capability. We just don't have the resources."

Most people who get the new coronavirus and the COVID-19 illness it causes experience only mild or moderate symptoms, such as fever and cough, and recover within weeks. But the virus is highly contagious and can be spread by people with no visible symptoms. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia.
 

ARMalik

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I think that if Pakistan manages to have even 50% of its debt written-off, it will be a fantastic outcome for this country!! 100% will write off would be unprecedented ! It will turbo charge the economy.
 

Chhatrapati

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That's stupid. Nobody is going to write off debts, but a moratorium can be established for repaying debts.
 

jaibi

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This would be a good strategy moving on in taking control of the situation. Debt relief instead of more crippling aid or loans. This needs the world to band together.
 

graphican

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Its a great initiative and it is the time for the world to step ahead and help the countries who's economy needs this support.
 

Aryan0395

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Get off the dream wagon. Nobody is gonna write off any loans, might give some relaxation in payments. I sincerely hope that Pak FO advised PM IK to not say it but he went ahead on his own.

Its a great initiative and it is the time for the world to step ahead and help the countries who's economy needs this support.
No excess economic help is coming along. Help will be for medical reasons.
 

ARMalik

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I personally think that this is probably once in a lifetime opportunity for Pakistan to do something about its foreign debt once and for all. If Pakistan can at least start some sort of negotiations with some friendly countries, example China, it will gain some momentum. When every Central Bank in the world is injecting billions and trillions into their economy, it is only fair that Pakistan be given some sort of debt break or relief or a combination of both.
 

Zulfiqar

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https://www.dawn.com/news/1541620/p...to-help-nations-like-pakistan-cope-with-virus

PM urges world to think of 'debt-write offs' to help nations like Pakistan cope with virus

"The world community has to think of some sort of a debt write-off for countries like us, which are very vulnerable, at least that will help us in coping with (the coronavirus)."

He also called for lifting sanctions against Iran, the epicentre of the coronavirus outbreak in the Middle East.

The premier sat down with AP at his office in Islamabad. He'd spent much of his day meeting experts about the effect of the coronavirus outbreak in Pakistan, which has confirmed 193 cases so far.

He said that if a serious outbreak of the pandemic happens in Pakistan, he is worried that his government's efforts to lift the ailing economy out of near-collapse would begin an unstoppable slide backward.

Exports would fall off, unemployment would soar and an onerous national debt would become an impossible burden. Pakistan secured a $6 billion bailout from the International Monetary Fund last year.

"It's not just Pakistan. I would imagine the same in India, in the subcontinent, in African countries," he said, referring to the virus.

"If it spreads, we will all have problems with our health facilities. We just don't have that capability. We just don't have the resources."

Most people who get the new coronavirus and the COVID-19 illness it causes experience only mild or moderate symptoms, such as fever and cough, and recover within weeks. But the virus is highly contagious and can be spread by people with no visible symptoms. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia.
No one is going to waive off debt. Is someone from bernie sanders's team advising him w.r.t such stupid comments.

IK needs to replace Buzdar and others with the exception of people like Jhagra who are actually doing something.

Saw Jhagra a few days ago who was doing a telecon on the issue. He is really putting an effort into it and has that pvt sector mentality that we need in other departments of government.
 

ARMalik

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No one is going to waive off debt. Is someone from bernie sanders's team advising him w.r.t such stupid comments.

IK needs to replace Buzdar and others with the exception of people like Jhagra who are actually doing something.

Saw Jhagra a few days ago who was doing a telecon on the issue. He is really putting an effort into it and has that pvt sector mentality that we need in other departments of government.
Only one way to find out .... and that is to try at least and see what happens. Egypt had all it debt forgiven during Gulf War. Whereas the jack arses here in Pakistan sold themselves for peanuts and asked for F-16s instead.
 

FuturePAF

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The west likes to keep Debt payments going; they may refinance and delay payments, but they won’t write it off unless paid in some other way or some special accommodation

 

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