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Dar has said that we now have to learn to live without the IMF.

It is hard to argue Nawaz Sharif's industrial empire or assets of his nephew are state property. The burden of proof is on the creditor. It would be too hard since all the evidence for that is on Pakistani soil.

The only things left are assets of Pakistani state - most of which are in Pakistan. As a creditor I would take a haircut rather than get involved in messy legal procedures.
In this case creditors would go after state enterprises such as PIA, PSM, Fauji cement, DHA, Pakistani ports of Karachi and Gwadar.
 
I would suggest giving Karachi to China in return for China paying off all the debts.

It will be a win win deal for everyone. Pakistan will get rid of the debt. Karachi will be free and get the chance to develop. China will get a manufacturing base near the Middle East.
 
I would suggest giving Karachi to China in return for China paying off all the debts.

It will be a win win deal for everyone. Pakistan will get rid of the debt. Karachi will be free and get the chance to develop. China will get a manufacturing base near the Middle East.

The rental army would rather rent Pakistan to USA.
 
All told, it's still not going to come anywhere near the borrowed amount adjusted with interest.

They just would have to wait.
If Pakistan defaults, they absolutely would go after Pakistani assets. They would try to recover as many losses as possible, because otherwise they would get nothing.

Again, you have no idea what you're talking about.
 
If Pakistan defaults, they absolutely would go after Pakistani assets. They would try to recover as many losses as possible, because otherwise they would get nothing.

Again, you have no idea what you're talking about.

Well they should go for it as there is little chance of Pakistan turning the economic tide so rapidly.
 
Yes 100%


Plenty of River side residence …

You should tell all the Muhajir neo-liberals on this forum to set an example. It's so funny how these naive self-loathing Bangladeshi psuedo-patriots on this forum make it their life to prove themselves against Pakistan and elsewhere.

They get encouraged by these Muhajir neo-liberals, falsely interpreting it as "Pakistani acknowledgement." It's funny to find anti-Pakistan Muhajir neo-liberals everywhere in the media, in the Pakistani diaspora and Pakistani forums praising Bangladesh & India but no interest in actually applying for immigration there.

Do we need to ask why not? Instead all these Muhajir neo-liberal columnists sit comfortably in Punjabi built cities such as Lahore, Rawalpindi & Islamabad.

When even intelligent Bangladeshis with common sense are questioning and mocking their government's propaganda on their imginary "development" we've got self-loathing muhajir neol-liberals advocating their government's claims.

Sorry if my comment comes as anti-Muhajir. But truth is truth. Maybe our Binglo friends who dance around on their encouragement can send them an invitation to sponser their immigration applications.

Do we know what the answer will be? Stay tuned to find out.
 
I had a crazy thought, maybe these sons of bitches are lying about defaulting to get their dirty hands on more IMF/Chinese loans. I mean it’s not hard to artificially raise prices on commodities and then claim xyz. As I have come to know about some Pakistanis (including in my extended family) they are lazy and also very bookay nangay of the highest order.
This looks more and more like a plot to deplete Forex and cry that the roof is falling. The sleazy politicians and their backers in the Army have no iman literally.

There’s needs to be a law that the stakeholders have to pass a basic Muslim test - how to pray, recite a short Surah etc. if you can’t do that, and we find out if you claimed xyz in the past about being namazi or performing hajj or invoking Allah (swt) name, you get hanged!
 
I had a crazy thought, maybe these sons of bitches are lying about defaulting to get their dirty hands on more IMF/Chinese loans. I mean it’s not hard to artificially raise prices on commodities and then claim xyz. As I have come to know about some Pakistanis (including in my extended family) they are lazy and also very bookay nangay of the highest order.
This looks more and more like a plot to deplete Forex and cry that the roof is falling. The sleazy politicians and their backers in the Army have no iman literally.

There’s needs to be a law that the stakeholders have to pass a basic Muslim test - how to pray, recite a short Surah etc. if you can’t do that, and we find out if you claimed xyz in the past about being namazi or performing hajj or invoking Allah (swt) name, you get hanged!

Anything goes in Faujistan .. anything..
 
I had a crazy thought, maybe these sons of bitches are lying about defaulting to get their dirty hands on more IMF/Chinese loans. I mean it’s not hard to artificially raise prices on commodities and then claim xyz. As I have come to know about some Pakistanis (including in my extended family) they are lazy and also very bookay nangay of the highest order.
This looks more and more like a plot to deplete Forex and cry that the roof is falling. The sleazy politicians and their backers in the Army have no iman literally.

There’s needs to be a law that the stakeholders have to pass a basic Muslim test - how to pray, recite a short Surah etc. if you can’t do that, and we find out if you claimed xyz in the past about being namazi or performing hajj or invoking Allah (swt) name, you get hanged!
It’s the same as inwardly being extremely happy that earthquake happend , or 2 episodes of floods, or taliban encroachment on Islamabad
This helps them in blackmailing the international community for $ which we all know goes into which pockets
 

Next Steps — What Happens When A Country Defaults?​

This section highlights the core of this article. In this section, I will outline the top ten potential consequences of a country defaulting:

  1. First and foremost, currency of the country can be devalued. This can make it expensive to import products. Additionally, export businesses might suffer due to selling products and services cheaper in short term. For exporters, currency devaluation is a double edge sword; when services and products get cheaper, it increases their demand. Exports become attractive and raises competition in market. As exports are cheaper for foreign countries, they tend to buy more from the defaulted country. Additionally domestic service providers might benefit due to foreign investments and tourism boosts due to foreigners visiting more frequently as it happened after pound devalued in 2016. Hence default has positive effects for the country too.
  2. Secondly, debt can be restructured such as by extending the loan payment date or by reducing the loan amount or by further devaluing the currency.
  3. Austerity measures might be followed which includes spending cuts and tax increase.
  4. Living standards of people can also be impacted. It might start with riots on the streets leading to banking crises. The core reason for banking crises can be that the people might attempt to take all of their money out of the banks due to uncertainty and confusion. The chances of banking crises might increase, as an instance by up to 10% and the government may close down its banks to avoid money withdraw. Occasionally, withdrawal is permitted but capital controls are imposed.
  5. Countries defaulting on foreign currency debt might also end up defaulting on local currency debt. This means that if you bought treasury bonds and the country defaults on foreign currency debt then you might not receive your bond periodic payments.
  6. Unlike business or individual bankruptcies, assets of a country are not repossessed. However occasionally military actions are followed when countries default. As an instance, Britain attempted to occupy Egypt when it defaulted in 1880s.
  7. Turmoil can be experienced in stock market. This can be due to uncertainty in market. No one might willing to buy anything. Many investors might even decide not to do business with the country until the situation is stable.
  8. Governments may refuse to pay any money or reduce the borrowed money as it happened in Argentina in 2001.
  9. The country can face loss of reputation, its rating might decline which makes it harder to borrow money in the future.
  10. GDP can slow down by up to 2% however it is usually for short term only (1–2 years). Cost to borrow money might even increase up to 1%. Due to higher export demands, current account deficit can decrease and this in turn ends up increasing economic growth. Again, there are some positive side effects.

as long as this does not impact expatriate remittances and textile exports who cares ??

Yes. Tell them what we can afford to pay, and no more.
that is a better way of negotiating than defaulting
:enjoy:
 

Rupee hits all-time low at 288 against USD​


SALMAN SIDDIQUI

Importers panic buy US dollars while supply of foreign currency in the interbank market is low

rupee hits all time low at 288 against usd
 

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