FATF meeting begins today to decide Pakistan’s fate

[Norwegian]

But we STILL didn't go bankrupt.....................by the way the above source is an opinion piece that is not factual..................

Saved by 9/11

 

[PAKSpecialForces]

Saved by 9/11

How exactly?

 

[Norwegian]

How exactly?

Prior to late 1999, Pakistan was in the throes of an unsustainable cycle of borrowing and spending, which policy makers were unable to halt. Following the October 1999 coup that brought him to power, General (now President) Pervez Musharraf faced a bankrupt country as the IMF program in Pakistan was suspended and foreign exchange reserves fell to dangerously low levels. There was a palpable urgency to revive the IMF reform program needed for debt relief, which was essential after the freeze of foreign currency accounts in May 1998, following Pakistan's nuclear tests.

In the aftermath of 9/11, Pakistan's financial situation improved dramatically: remittances flowing into Pakistan soared, the value of the Pakistani rupee appreciated, and a fiscal consolidation occurred as the ratio of Pakistan's deficit to its GDP decreased. As external financing surged, the government no longer needed to borrow from banks, which led banks that were "flush with liquidity" to lend to the private sector. Although Pakistan started experiencing impressive economic growth, Khan contended that this growth was (and is) based on "cheap credit, not economic fundamentals." The Pakistani economy is currently imbalanced because it is fueled by credit-driven growth, which in turn is stoking an already large external deficit. The appropriate policy response in the banking sector is to tighten interest rates; however, both policy makers and the economic elite strongly resist this step.
https://www.wilsoncenter.org/event/911-pakistans-economy-and-the-imf

 

[Pakistansdefender]

Can someone tell internal news from Fatf?
Did voting happen?
There are news of a 4th vote beside China, Turkey and Malaysia of Netherlands.
And surely saudia Arabia and USA would Back us this time if news is to be believed.

 

[Foxtrot Delta]

Can someone tell internal news from Fatf?
Did voting happen?
There are news of a 4th vote beside China, Turkey and Malaysia of Netherlands.
And surely saudia Arabia and USA would Back us this time if news is to be believed.

I highly doubt UAE but ksa could be on our side if only MBS was not incharge he has ruined aeab world and relations with turkey and pakistan for arabia.

 

[Pakistansdefender]

I highly doubt UAE but ksa could be on our side if only MBS was not incharge he has ruined aeab world and relations with turkey and pakistan for arabia.

I am sorry bro but I had to correct you there.
Please I beg you change this mentality.
Whatever MBS does in his country is his business. We needs to be friends with all the countries in the world and urge them to invest more and more in Pakistan.
What saudiarabia offer about 6 to 7 billion in remitences, and the investment pledges of 20 billion dollars and more to come is in our favour. So does turkey and its investment is welcome.
You don't have to choose. You don't have to select one over the other. Be friends with both.
You don't have to ditch Iran for saudia Arabia Aur Saudi Arabia for Turkey.
Saudi arbia would invest but won't raise voice against kashmir and invest double the amount in India. They looks what is right for them..
And we look what is right for us. We should force and convince them to invest in Pakistan as much as they can and take our people on jobs . If that is the only thing they are doing for us.
As soon as we develop our economic independence we are free to be friends with all and not even have to think about choosing sides.
This is something new for us I understand. For the last 10 years we have only seen Pakistan being bullied and blamed and abused. Now finally under the leadership of Imran khan World is acknowledging our role. The hate comments have died down, only left are the ones from India.
And Pakistan is friends to all. Malaysia, Turkey, Qatar, Iran and saudia Arabia.
Iranian delgation is here few weeks ago. They gave us relief in Iran Pakistan gas pipe line.
Malaysia and Turkey helped us a lot in raising kahsmir and investing in Pakistan.
Qatar is investing and taking Pakistani labor.
Saudia Arabia and uae are investing. Just today you heard the report of 10 billion dollar worth of refinery land purchases.
LEARN TO WORK WITH ALL OF THEM.
THE SAME POLICY INDIA PERSUDE IN THE LAST DECADE WHEN WE WERE APOLOGETIC. AND THANKFULLY WE ARE HEADING THAT WAY.
The way in one year India's prestige was ruined by Imran khan our military establishment and past leaders would not be able to do that in 70 years.