"Asad Umar delayed IMF Program back in September 2018 is the reason Pakistan got harsh IMF condition" Ali Khizar

[Desprado]

"After the Pakistan Tehrik-e-Insaf (PTI) came to power in 2018, IMF conditions were not as tough initially during pre-programme negotiations. But the then Finance Minister, Asad Umar, wanted even easier terms. The delay worsened balance of payment (BoP) situation to the point that by May 2019, a more frontloaded and tougher programme had to be signed by a new finance team."


Imran Khan endorsed and admitted the mistake in 2020 inteview like 6 to 7 times but ,however, now PTI youth has no excuse that it has delayed so that we could got better condition ,however, according to Shaukat Tarin interview with Kamran Khan in April reveal that If Pakistan accepted the condition of IMF on September 2018 than Pakistan would had beyond 24-25 billion dollar reserve and we would not have got this useless market base exchange rate claimed by FM.

IMF talks: there’s now rising sense of deja vu?

The finance team in Islamabad is walking a tight rope. Promises made by the government to the International Monetary...

www.brecorder.com

 

[Genghis khan1]

Topi drama and excuses. Pakistan is being forced into financial trap. Pakistanis can blame no one except themselves for falling into this trap.

 

[hydrabadi_arab]

Blunder by Asad Umar. Devaluation to Rs170 was another shock that was not needed. If today rate is around Rs156 then back then Rs140-45 should have been enough. You go to IMF if you don't have dollars, simple as that. You don't put your own conditions in front of IMF if you don't have ability to pay.

 

[Enigma SIG]

PMLN and PPP need to really sort out their shit. First it was PTI isn't going to IMF fast enough. When they did; randi rona started about PTI selling Pakistan to the IMF. Now again, the topi drama has started about BoP being worse because PTI didn't go to the IMF fast enough.

Make up your damn minds!

 

[The Accountant]

"After the Pakistan Tehrik-e-Insaf (PTI) came to power in 2018, IMF conditions were not as tough initially during pre-programme negotiations. But the then Finance Minister, Asad Umar, wanted even easier terms. The delay worsened balance of payment (BoP) situation to the point that by May 2019, a more frontloaded and tougher programme had to be signed by a new finance team."


Imran Khan endorsed and admitted the mistake in 2020 inteview like 6 to 7 times but ,however, now PTI youth has no excuse that it has delayed so that we could got better condition ,however, according to Shaukat Tarin interview with Kamran Khan in April reveal that If Pakistan accepted the condition of IMF on September 2018 than Pakistan would had beyond 24-25 billion dollar reserve and we would not have got this useless market base exchange rate claimed by FM.

IMF talks: there’s now rising sense of deja vu?

The finance team in Islamabad is walking a tight rope. Promises made by the government to the International Monetary...

www.brecorder.com

The issue is geo politics here which are not in favor. Give them the air fields, leave CPEC and the attitude of imf will be changed.

We have to go through a tough time to get things better for future.

It is not about IMF program but lack of local manufacturing which is the problem.

Start local manufacturing make yourself competitive to international market and start new ways of doing business otherwise we will become compareable to africa.

Relying on IMF is a stupid thing and articles like this are asking to do stupidity again and again.

 

[ziaulislam]

"After the Pakistan Tehrik-e-Insaf (PTI) came to power in 2018, IMF conditions were not as tough initially during pre-programme negotiations. But the then Finance Minister, Asad Umar, wanted even easier terms. The delay worsened balance of payment (BoP) situation to the point that by May 2019, a more frontloaded and tougher programme had to be signed by a new finance team."


Imran Khan endorsed and admitted the mistake in 2020 inteview like 6 to 7 times but ,however, now PTI youth has no excuse that it has delayed so that we could got better condition ,however, according to Shaukat Tarin interview with Kamran Khan in April reveal that If Pakistan accepted the condition of IMF on September 2018 than Pakistan would had beyond 24-25 billion dollar reserve and we would not have got this useless market base exchange rate claimed by FM.

IMF talks: there’s now rising sense of deja vu?

The finance team in Islamabad is walking a tight rope. Promises made by the government to the International Monetary...

www.brecorder.com

correct ...

IMF was very happy with 24b dollar deficit..it was very unhappy why the deficit was 12 billion dollars at time of signing..

the more the deficit the stronger the economy and less likely the chance of default

had our deficit been 30 billion dollars we wouldn't have needed IMF, nawaz sharif was on path to achieve that but IK decreased the deficit..damn you IK

 

[Desprado]

correct ...

IMF was very happy with 24b dollar deficit..it was very unhappy why the deficit was 12 billion dollars at time of signing..

the more the deficit the stronger the economy and less likely the chance of default

had our deficit been 30 billion dollars we wouldn't have needed IMF, nawaz sharif was on path to achieve that but IK decreased the deficit..damn you IK

Do you watch Shukat Tarin Interview on April 2021 Kamran Khan ka sath?

He said that Asad Umar did a bad job as Finance mister and he did not straight away went to IMF.

Kamran Khan said the same you said than Shaukat Tarin said that " That is all crap because Hafeez in front of Asad Umar told in the cabinet that we did a blunder that we did not first go to IMF ,which costed us 6 billion within 8 moths just to manage exchange rate. He said that now they asking to adjust to Tariff and Gas prices ,which first they asking to just increase 3 rupee within total IMF program but now we have to increase 8 rupee. He said that PM Khan repeatedly said that I wish i did not have listen to Asad Umar and stright away went to IMF. He quoted PM statement he asked Kamran Khan why he said that? Because PM Khan did not see the ground reality and we did decision based on Fantasy ,which did not exist in a real world".


He said ,said that Asad Umar did not take China into confidence and shared the detail of CPEC projects and Loan with IMF (America) ,which China did not like and now they are have delayed our ML1 Loan. I have talked to Chinese FM and he assured me things will be done,

 

[Mav3rick]

Asad Umar's decision to not go to the IMF straight away did end up costing us a damn lot when we eventually did go to IMF. However, we still have to give him the benefit of the doubt as there was still a possibility that things could be managed without IMF just with the help of friendly countries. USD 6 Billion was no big deal for China, and yet we could has asked Saudis and Emiratis to help us.

Greece was bankrupt but was bailed out by European Union. Things go topsy turvy for many countries and then they need the help of friendly countries. We can always repay back in cash and kind once we are back on our feet and headed in the right direction.

 

[ziaulislam]

Do you watch Shukat Tarin Interview on April 2021 Kamran Khan ka sath?

He said that Asad Umar did a bad job as Finance mister and he did not straight away went to IMF.

Kamran Khan said the same you said than Shaukat Tarin said that " That is all crap because Hafeez in front of Asad Umar told in the cabinet that we did a blunder that we did not first go to IMF ,which costed us 6 billion within 8 moths just to manage exchange rate. He said that now they asking to adjust to Tariff and Gas prices ,which first they asking to just increase 3 rupee within total IMF program but now we have to increase 8 rupee. He said that PM Khan repeatedly said that I wish i did not have listen to Asad Umar and stright away went to IMF. He quoted PM statement he asked Kamran Khan why he said that? Because PM Khan did not see the ground reality and we did decision based on Fantasy ,which did not exist in a real world".


He said ,said that Asad Umar did not take China into confidence and shared the detail of CPEC projects and Loan with IMF (America) ,which China did not like and now they are have delayed our ML1 Loan. I have talked to Chinese FM and he assured me things will be done,

exactly, we should have gone straight away and dropped rupee to 180-200rs and did a much stronger and quicker adjustment..
a slow adjustment with just infaltion of 10% was nothing, we did that on back of 15b dollars we borrowed from arab countries


however, claiming IMF would have been more lenient is more Ludicris then my statement above

 

[Bilal Khan (Quwa)]

The issue is geo politics here which are not in favor. Give them the air fields, leave CPEC and the attitude of imf will be changed.

We have to go through a tough time to get things better for future.

It is not about IMF program but lack of local manufacturing which is the problem.

Start local manufacturing make yourself competitive to international market and start new ways of doing business otherwise we will become compareable to africa.

Relying on IMF is a stupid thing and articles like this are asking to do stupidity again and again.

I agree. As Pakistanis, we have a dismal lack of appreciating economics. Be it liberal, secular, religious, pro-or-anti-military, or whatever, everyone can't seem to get these straightforward points.

 

[Syed1.]

exactly, we should have gone straight away and dropped rupee to 180-200rs and did a much stronger and quicker adjustment..
a slow adjustment with just infaltion of 10% was nothing, we did that on back of 15b dollars we borrowed from arab countries


however, claiming IMF would have been more lenient is more Ludicris then my statement above

PTI government actually started negotiations with IMF as soon as they got the government and at that point IMF wanted dollar to be Rs180-200 and interest rate at 22%.


That is the state of the economy left by PML-N, but who will explain this to donkey eaters?

It was all thanks to Saudi, UAE and China that our IMF program was not as harsh as it IMF originally wanted.

 

[deathfromabove]

I agree. As Pakistanis, we have a dismal lack of appreciating economics. Be it liberal, secular, religious, pro-or-anti-military, or whatever, everyone can't seem to get these straightforward points.

Most of us do not understand economics yet we choose to jump at every opportunity to 'leg-pull' the other.

Having said that, I believe PTI govt should control food imports because we are practically wasting food (Sindh hoarding first then wasting 32,000 tonnes) and re-purchasing it later from outside.

 

[Bilal Khan (Quwa)]

Most of us do not understand economics yet we choose to jump at every opportunity to 'leg-pull' the other.

Having said that, I believe PTI govt should control food imports because we are practically wasting food (Sindh hoarding first then wasting 32,000 tonnes) and re-purchasing it later from outside.

Yep. Our food waste is one of the highest in the world due to a lack of proper storage/sustainment capacity -- so much wasted potential for the local economy and exports.

 

[nahtanbob]

correct ...

IMF was very happy with 24b dollar deficit..it was very unhappy why the deficit was 12 billion dollars at time of signing..

the more the deficit the stronger the economy and less likely the chance of default

had our deficit been 30 billion dollars we wouldn't have needed IMF, nawaz sharif was on path to achieve that but IK decreased the deficit..damn you IK

bigger deficit means more partying. why spoil things ??

 

[ziaulislam]

PTI government actually started negotiations with IMF as soon as they got the government and at that point IMF wanted dollar to be Rs180-200 and interest rate at 22%.


That is the state of the economy left by PML-N, but who will explain this to donkey eaters?

It was all thanks to Saudi, UAE and China that our IMF program was not as harsh as it IMF originally wanted.

Donkeys need to face it
IK did a mistake "poltically"
Had he immediately signed IMF and let the rupee run to 200. We would have had a bad depression first two years (some poor people would have died of hunger or did suicide) but ultimately we would have growth this yr..but it would have been so bad that people who would have not voted back PMLN ever..

Well no...love is blind..this exactly happened in 1998 rupee devalues from 30 to 60 & kargil was handed over but people still voted him back..

Lebanon bankrupted and people r using bitcoin now there while hirari is on a yatch with russian models but people still want him back..same way people want syed ghani and zaradri who recentlt was enjoying sunshadewith iyan ali

Love is love..nawaj sharif aik nasha hey..

A wise man said reward the masses again and again but give them pain in 1 swft move