Apparently on PM’s debt relief plea: Pakistan’s dollar bonds plunge

[Dalit]

Bajwa buckled to American pressure and chose to limit relations with China and Russia.

Bajwa’s cost benefit calculation blew up on his face when he installed an imported government.

Now, why would you think China will not get pissed off and limit it’s relation with Pakistan. Not even talking about inflation, political instability which happened as a result of this fiasco.

This laanti Showbaz is not helping either by saying all hell will break lose if flood aid is not forthcoming. What do you expect?

Pakistan Rs going to 180 to $?

Now the Europeans and Americans aren't even coming to Bajwa's aid when Pakistan is literally floating. Worse, even China and Russia are looking the other way. Talk about burning all bridges. Guess what Bajwa is doing. He is threatening journalists, PTI and vocal family members. Pakistan has been truly destroyed.

 

[Aspen]

Being able to invest in a country relies on the investor being able to trust the government or regime in power. No trust, no investment.

The government doesn't have as much power as people think. Pakistan's problems are deeper than just corruption. There are entire industries that don't exist. Gov't can encourage exports but they can't make them. This problem has more to do with society than any government. Nobody wants to admit it and that is one of the reasons why it is still an issue.

Chinese wrote a blank check for CPEC and there is essentially nothing to show for it. Other countries have done twice as much in half the time. For what China considers to be its most important global investment and what is arguably Pakistan's only lifeline, the resources we have devoted to CPEC or the complete lack thereof is a complete disgrace. The lack of progress on Gwadar is inexcusable, for a project of that magnitude with transformative implications, it should have had fast track priority at all stages of the federal level, instead it is being handled with the scope of a second rate white elephant which is exactly what it has become. This problem has existed during all recent governments and is a clear indictment of the fact that gross mismanagement is not partisan.

 

[Wood]

the global community has pledged flood relief at around $1.5-2 billion. Their arrivals would also help boost the reserves

Dollar bond yields skyrocket after PM’s debt relief appeal | The Express Tribune

Global investors view appeal as sign of imminent default on foreign debt

tribune.com.pk

Global community has pledged nearly $2 billion in aid for Pakistan. PM Shehbaz is striking the iron when it's hot to extract maximum debt relief right now through this appeal. Japan has recently deferred a $160 million payment and then we have this UN memo

The memorandum, which the UN Development Programme will share with Pakistan's government this week, states that the country's creditors should consider debt relief so that policymakers can prioritise financing its disaster response over loan repayment, the newspaper said.

The memo further proposed debt restructuring or swaps, where creditors would let go of repayments in exchange for Pakistan agreeing to invest in climate change-resilient infrastructure, FT said.

If PM Shehbaz's efforts succeed, then Pakistanis should celebrate him as a hero!

 

[Ssan]

The government doesn't have as much power as people think. Pakistan's problems are deeper than just corruption. There are entire industries that don't exist. Gov't can encourage exports but they can't make them. This problem has more to do with society than any government. Nobody wants to admit it and that is one of the reasons why it is still an issue.

Chinese wrote a blank check for CPEC and there is essentially nothing to show for it. Other countries have done twice as much in half the time.

The facts speak for themselves. A lot of us were willing to give IK a chance with our investment and money. Yes, even though we all understood there was plenty that was out of his control. And that govt institutions have inertia. There was a level of trust and therefore investments.

The same is not true for this govt. overseas Pakistanis / investors ain’t gonna be sending dollars. No trust, no investment.

I do give credit to Miftah for making the right economic decisions- albeit, he is hamstrung by his own govt and they want to replace him with Ishaq Dar.

 

[Aspen]

The facts speak for themselves. A lot of us were willing to give IK a chance with our investment and money. Yes, even though we all understood there was plenty that was out of his control. And that govt institutions have inertia. There was a level of trust and therefore investments.

The same is not true for this govt. overseas Pakistanis / investors ain’t gonna be sending dollars. No trust, no investment.

I do give credit to Miftah for making the right economic decisions- albeit, he is hamstrung by his own govt and they want to replace him with Ishaq Dar.

I don't want to say IK is a conman but it is also difficult for me to say he is not. I don't always agree with Ahsan Iqbal but he is absolutely right that PTI is always deliberately vague about giving any actual number on investments and infrastructure updates that can be traced back to them, because there is nothing there. Whatever numbers IK does give about debt crisis or food prices always come with the caveat that the previous govt is to blame. The first time I got any update about infrastructure under PTI regime was from Ahsan Iqbal.

I find it interesting that people reflect on giving IK their money as a smart move. Given how reckless he was with the economy playing effectively Russian roulette with the exchequer of 220m people, I would be ashamed to admit giving any money to him if I did given how Pakistan's house of cards masquerading as an economy imploded as soon as he left office. People blame PMLN but in what world does it make sense for a country's economy to essentially implode overnight when the PM changes? It shows just how unstable the economy was, it was on a knife edge the entire time. IK's handling of the economy was no less than a bull in a China shop and the current predicament of being one payment away from the brink of default makes it pretty clear that whatever breakthrough progress IK claimed to have made in restoring the health of the economy either never existed or was a complete lie.

 

[Ssan]

I don't want to say IK is a conman but it is also difficult for me to say he is not. I don't always agree with Ahsan Iqbal but he is absolutely right that PTI is always deliberately vague about giving any actual number on investments and infrastructure updates that can be traced back to them, because there is nothing there. Whatever numbers IK does give about debt crisis or food prices always come with the caveat that the previous govt is to blame. The first time I got any update about infrastructure under PTI regime was from Ahsan Iqbal.

I find it interesting that people reflect on giving IK their money as a smart move. Given how reckless he was with the economy playing effectively Russian roulette with the exchequer of 220m people, I would be ashamed to admit giving any money to him if I did given how Pakistan's house of cards masquerading as an economy imploded as soon as he left office. People blame PMLN but in what world does it make sense for a country's economy to essentially implode overnight when the PM changes? It shows just how unstable the economy was, it was on a knife edge the entire time. IK's handling of the economy was no less than a bull in a China shop and the current predicament of being one payment away from the brink of default makes it pretty clear that whatever breakthrough progress IK claimed to have made in restoring the health of the economy either never existed or was a complete lie.

You’re rambling here.

Quoting Ahsan Iqbal for infrastructure spending?! PTI never shared investment numbers?! Those are public FYI.

The reason that Pakistani economy crashed was because again, remittances fell or have stalled as soon as this govt came in to power. CAD blew up, after Miftah greatly increased the prices of commodities, it is back this month to where PTI left it btw. Because the first move they did was to remove the rights of overseas Pakistanis to vote, etc. so don’t expect much on that front.

I think in the long run, forcing people to pay the full price of commodities is the better economic policy. I guess if they also have to pay for previous govts incompetent contracts in IPPs, then I guess this is what is necessary given that remittances have stalled. In the long run, it will be better for us if remittances are not taken for given anyways.

 

[Mugen]

This is a good chance for patriotic overseas Pakistanis to support their country by purchasing the publicly traded government bonds from Pakistan

Nah, we don't trust these corrupt chors even one bit, under them, the country will eventually buckle, we will only prolong the suffering while they keep sucking on it like leaches until it turns in to a corpse, better not to feed PDM and Bajwa and co.

 

[PakFactor]

Yes, patriotic Pakistanis would love to buy these bonds just to support their motherland. It's unfortunate that some brainless fools (blinded by their slave mentality) try to dissuade others from doing anything that could help our national economy just because of their deep hate for the military and current Pakistani government. These personality-worshiping idiots think that a Pakistan deep into crisis or even facing default will help their incompetent and rejected political leader return to power. My reading of the current events is that they will not come back to power at all. Rather their leaders will face the law of the land for their criminal activities they have committed so far.

Here is the problem, you expect us to help when we overseas do not want these corrupt and incompetent people in power who the world knows have looted this nation. Then you come and take away voting rights and now demanding our money? It's not personality worship when he's the last best option out of the other two tried and tested political parties, or royal dynasties as I call them.

Better yet, drown and die out; that's the only best solution for this country.

 

[SIPRA]

Pakistan will reap the consequences of the treachery and treason of Mir Bajwa, for a long time to come. Tragedy of Pakistan is that nobody was able to stop this naked destruction of the state, carried out by a thug and traitor.

 

[Chat SAMOSA]

Bajwa buckled to American pressure and chose to limit relations with China and Russia.

Bajwa’s cost benefit calculation blew up on his face when he installed an imported government.

Now, why would you think China will not get pissed off and limit it’s relation with Pakistan. Not even talking about inflation, political instability which happened as a result of this fiasco.

This laanti Showbaz is not helping either by saying all hell will break lose if flood aid is not forthcoming. What do you expect?

Pakistan Rs going to 180 to $?

If what you say is true, it is stark proof why military must not meddle in ANYTHING other than nation's military defense. Not foreign relations, not economy and not religious / social nonsense. It suited certain Pakistanis when military intervened and from time to time even ran all these spheres. ISI was literally wagging the dog military intern was wagging the government.

Now you have to find a way to extract this cyst without damage to vessels and nerves.

So far it is just karma that applies to all mistakes anywhere. But Pakistan has a special nasty habit.

Pakistan almost always solves any such problem by committing a bigger mistake. Thus always kicking the can down the road . But the can keeps getting bigger and heavier. So each kick hurts some more.

Happened to Zia, happened to Bhutto, to Benazir, to Musharaf , to Sharief.... starting to happen to Imran too.

 

[nahtanbob]

Yes, patriotic Pakistanis would love to buy these bonds just to support their motherland. It's unfortunate that some brainless fools (blinded by their slave mentality) try to dissuade others from doing anything that could help our national economy just because of their deep hate for the military and current Pakistani government. These personality-worshiping idiots think that a Pakistan deep into crisis or even facing default will help their incompetent and rejected political leader return to power. My reading of the current events is that they will not come back to power at all. Rather their leaders will face the law of the land for their criminal activities they have committed so far.

Does it work both ways ? Shouldn't the current politicians in power approach the other side ?

 

[Jango]

Kdhr hain ab woh sab jo kehte thay that IK tanked investor confidence through his speeches in Layyah?

This is a sitting PM in New York saying this, but not a peep.

 

[diligence]

Here is the problem, you expect us to help when we overseas do not want these corrupt and incompetent people in power who the world knows have looted this nation. Then you come and take away voting rights and now demanding our money? It's not personality worship when he's the last best option out of the other two tried and tested political parties, or royal dynasties as I call them.

Better yet, drown and die out; that's the only best solution for this country.

Comon man, the nation is devastated by the floods and is in dire need of funds. Help them by cherity and/or investing in Pakistan. Settle your political score later. No one is going to take money from dollar account and send it abroad as looted money.

 

[AZADPAKISTAN2009]

Untill the nation will demand

ELECTION FIRST CRY !!! Things will not change

When we wake up the cry should be Election First

Before we sleep the cry should be Election First

Before you eat of course after saying Bismillah ask your family did the Election Date get announced

 

[TheDarkKnight]

If PM Shehbaz's efforts succeed, then Pakistanis should celebrate him as a hero!

Celebrate for a possible meagre recovery from an economic and political disaster of his own creation?