What default means.?

[epebble]

@PakSword

https://twitter.com/i/web/status/1598217920789848065

This is what Google translate says:

The import of raw materials and medical devices in Pakistan is stopped, there is a fear of severe crisis of medicines

This is so stupid. They are allowing Volvo luxury cars ( i saw a thread on taxes being reduced) but stopping medical supplies. I have a feeling that import licenses are going to people with powerful lobbies and the auto sector has more power than medical sector.

 

[Goenitz]

This is what Google translate says:

The import of raw materials and medical devices in Pakistan is stopped, there is a fear of severe crisis of medicines

This is so stupid. They are allowing Volvo luxury cars ( i saw a thread on taxes being reduced) but stopping medical supplies. I have a feeling that import licenses are going to people with powerful lobbies and the auto sector has more power than medical sector.

Exact translation..
Actually, auto industry was closed during 2 years 19/20. So, these orders were booked perhaps 1 year ago and now coming to country. Anyway, luxury items must be banned.

 

[VCheng]

While it certainly will cause difficulties, the main one being lack of access to new capital, a lot of fear mongering that creditors will come and seize property etc., is absurd. USSR problem was disintegration of a large nation. Economic collapse was caused by collapse of the nation. No one expects Pakistan to break into pieces because of default. Lenders do not benefit by arm twisting. They benefit if the economy can be revived so that repayment is possible. Everybody wants an injured horse to recover so that they can ride it, not allow it to die so that they can eat it. Sri Lanka had an extreme case of mismanagement where they did not impose Exchange Controls early enough. Finance minister Dar has already imposed Exchange control before reaching the point of no return.

The last time I checked, Sri Lanka went through the (temporary) shortages of petrol, medicine and food and it was still there as a country. Pakistan can surely do the same.