IMF bars Pakistan from extending sovereign guarantees till December review

[Dark-Destroyer]

People dont want to pay taxes wanna rob the state dry vote for nawaz and zadari and then say this is what happens when u go to imf

 

[Dubious]

Right, and thanks for your great contribution of one liner today. Have a great day F*ing day.

mind the language!

If you cant keep your manners, please come back with a cooler head! We dont allow disrespect of any member!

To those naive kids who think this could have happened over past 1-2 years...please grow up!

To those who still dont understand, it takes YEARS if not decades to have fallen this low! Considering we have natural fruit, vegetables, minerals and ores and manpower!

Japan has far less yet it never reached this point!

 

[Enigma SIG]

While in November india will be hving its military exercise with usa?
Pak been fooled and our PM, is a innocent fool who lives in his dream world which is costing us kashmir frist then later much more!

While Noora and Zardari were busy raping the country for 15 years and no one bats an eye.

 

[Mangus Ortus Novem]

@Accountant

See this is what I meant in the other thread, its always good to get new perspective like IMF barring GoP from issuing sovereign Guarantees.


@Mangus Ortus Novem sir your expert opinion on this, and don't hang out on the other board too much.

Ah my brohter,

Double edged sword this!

On the surface I totally agree with the premis of not issuing any sovereing guarantees... should be rare on fundamental principles of National Financial Independence.

The EconomicTerrorism done in the past 10 years is too intense..and it was all due to these sovereign guarantees scam.. if you throw in the IPPs then all of the 90s have dug a whole for us. But IPP was/is get-rich-quick-scheme. We have discussed that already.

Regarding the downside... well... PakState is desparately short on chasflow to just keep the functioning of the State...with it balooned and totally unnecessary bureacracy... where 1 is needed we have 20.

And then this will limit our room for manuver in the emerging scenario regarding GanguDaesh... so I tend to see it WeaponisedFinance tool...this policy is.

What is required and what is happening at snale pace is the fundamental reforms in the GovernanceModel and StateExpenditure... easily said than done.. I am aware of it.

IMF was forced upon us... as we discussed The Ugly Truth about economy section... the EconomicHitmenSquad is planted... to keep Pakistan squeezed in the Washington Concensus...

PKR devaluation could have been managed much better than this classic scheme ...by making imports of all but life-saving/edible oils impossible through super hikes in duties.

The trouble is with redemption of debt of past governments... we have already redeemed $10Bln in the first FinYr of this government and this FinYr we have to do about the same... a bit more I believe...

Another area still not under control is the hundi business.

Becuase the actual amount that Pak remit is much larger.. than the official banking channels... by not cracking down on hundi/hawala business government has created more trouble for itself. Again easily said than done..because the HundiMaffia is too strong.

Besides Hundi is the fundamental link between blackmoneymarket and moneylaundering... because where expats in ME send money through Hundi.. the same Hundi network then uses that money to fill the coffers of CriminalEnterprise.... TT scandal is just one little tip of the iceberg.

Then there is cash trade/money exchanges of dollars/euros which is still open. With one move it could have been made illegal and all deposites would have been forced to banking sector.
Two benefits:
1- Blackmoney comes into circulation...
2- export of cash dollars to Dubai/Afghanistan/Iran could have been stopped.

Now coming back to the IMF nakhra ... well... I have never seen such a stringent IMF program for such a small amount of loan... where half of this loan will be repayment of previous loan taken by NooraRegime.

Put together with FATF... we are truly place between a FinancialVice and its being tightened around our necks every step of the way.

Now as you know this is directly related to GeoPolitics of Afghanistan, CPEC, Iran and GanguDaesh... so WeaponisedFinance becomes even more clear.

I have no sympathy for the paralysed GoP of PMIK... bad choices of teams after bad choices... and there is a clear indication of takeover by Maffiaz/CriminalEnterprise of his government...

There is still time... for radical changes... especially towards hundi/moneylaundering... imports and cash dollar hoarding... when combined together you shall see our Forex would grow faster than ever before... thus taking away the pressure of Artifical Inflation.

True value of PKR is very different even now... I strongly believe PKR is quite undervalued...

So... it brings us back to implants of foriegn powers in FinMin ... and imported FinMinister..with no belongings in Pakistan.

UsadUmar was the First Made in Pakistan Finance Minister.. he was on the right track...worked hard..but Maffiaz wanted him out... the rest you know much better.

Pakistan needs to fence its physical borders with western neighbours... and even more importantly Pakistan needs to close it FinancialBorders for any EconomicTerrorism.

Sovereignity is directly proportional to what I have said above...

In the Hybridwar and Mushy dumbness we have allowed the forces to make PakState Hollow and Paks unnaturally poor... just so that we be defanged and accept GanguDaesh hegemony.

Please, remember BloodBorders.... and now superimpose all of the above and internal 'artificial' political instability and designed/managed Misiformation by MarasiMedia... you will clearly see what I imply.

On a side note... the overall PensionsWMD in the West (More so in Europe), Asia Pacific and yes, GanguDaesh... is half or equal to the entire GDP of the planet... so global recession is already here... I believe you hinted at such in another thread... Please, also include in the Model credit to asset ratios in EU, US and AsiaPacific... you know what I mean. (BTW: If you have time take a deepr dive into GanguFinances.. pensions, loan-to-asset-ratio...)

We must discuss the EconomicDrivers of emerging scenario... and that PowerShift to East is not that smooth...well nothing of such nature ever is...

Hopefully, you can second me when I say:

The Greatest Game is in Town. And Pakistan is The Heartland.​

P.S. Pakistan is NOT a poor country... we don't need FDI... if only Paks invest their money back in Pakistan... GrowthEngine Pak is!

 

[Kabotar]

Fake news

https://twitter.com/x/status/1177131693427318784

 

[AZ1]

2008 to 2018 Was A "Democracy"(a.k.a west establishment supported kleptocracy)

This shows that he doesnt know much about pakistan or its economy and he want to be relevent and show his hate for Imran khan.

 

[Sine Nomine]

2008 to 2018 Was A "Democracy"(a.k.a west establishment supported kleptocracy)

Whole PTI fanboy team is smart,but i can't figure how 20 years is from 2008 to 2018.
West didn't begged an NRO.

You should have thought about this 20 years ago.

 

[ARMalik]

mind the language!

If you cant keep your manners, please come back with a cooler head! We dont allow disrespect of any member!

To those naive kids who think this could have happened over past 1-2 years...please grow up!

To those who still dont understand, it takes YEARS if nor decades to have fallen this low! Considering we have natural fruit, vegetables, minerals and ores and manpower!

Japan has far less yet it never reached this point!

Dubious, thanks for the reminder and I do realise my error. But please, members need to at least put in more effort to explain better rather than encourage confrontation by their one liners. This particular member could have easily put some extra effort to explain what he meant. One liners like these degrade the standard of this forum, and hence my outburst. I will try keeping it in check.

 

[VCheng]

Whole PTI fanboy team is smart,but i can't figure how 20 years is from 2008 to 2018.
West didn't begged an NRO.

Blaming IMF is pointless and FALSE. Pakistan made the decision to go for an IMF bailout, and presented its OWN plan to meet the requirements to qualify for the bailout. It is up to Pakistan to get its economic house in order, and not anyone else. Is that too hard to understand?

 

[Sine Nomine]

Blaming IMF is pointless and FALSE. Pakistan made the decision to go for an IMF bailout, and presented its OWN plan to meet the requirements to qualify for the bailout. It is up to Pakistan to get its economic house in order, and not anyone else. Is that too hard to understand?

IMF has head office in West,it's name is written in latin script,this provides a perfect casus belli for labeling it as some conspiracy hatched by evil west for undermining Momineen.

 

[ps3linux]

@Mangus Ortus Novem

I tend to agree with you on most of the count. There are two things at play here:

The national sovereignty/pride well we scre**d the pooch when liaquat ali cancelled his USSR trip and went to give a b.j to uncle sam, then seato/cento, bhuttos nationalization and zia's property dealerism followed by nym*ho and nooras and the "arab and iranian ummah" oh forgot the moderate Pakistan of 99-2008, we never had any sovereignty much as I detest to admit. We were always dependent on someone.

The other aspect is giving away sovereign guarantees like trick a treat candies, there is a price a big one if I must say, many of the IPPs have en-cashed these guarantees through international arbitration courtesy nym*ho and nooras successive Govt, Reko Dik is another example, Iran Pakistan Pipeline/LNG terminal are upcoming mess which we will have to face all because of sovereign guarantees.

I don't like IMF and their financial models but no F.I in their right mind is willing to lend to Pakistan unless we get a vetting from IMF for financial discipline, coupled with the fact that many of the past/present public figure's are famous for their extravagant life styles abroad, our finance ministry has been fined twice for figure fudging, but IMF is a necessary bitter pill. Hell even Lithuania has better export mix than Pakistan. In this instance I tend to agree with IMF decision to put a limit to sovereign guarantees, in this instance it is going to benefit whom?

To retire circular debt of 200 billion by issuing an ijara sukuk, which will be fully subscribed by banks who have nowhere to place their excessive liquidity considering the fact that credit off-take is going to shi**ers due to this high interest rate. Nutshell is that guarantee is intended to be issued to retire one debt and create more liability of interest and principal just so that few interest hungry shareholders satisfied. and you don't want me to start elaborating which bank's major stake holder is who...

Right now its a blessing in disguise.

 

[Sine Nomine]

Dubious, thanks for the reminder and I do realise my error. But please, members need to at least put in more effort to explain better rather than encourage confrontation by their one liners. This particular member could have easily put some extra effort to explain what he meant. One liners like these degrade the standard of this forum, and hence my outburst. I will try keeping it in check.

Just remember that thread and post,quote it on a thread about opposition for comparison of language.

 

[Haris Ali2140]

Blaming IMF is pointless and FALSE. Pakistan made the decision to go for an IMF bailout, and presented its OWN plan to meet the requirements to qualify for the bailout. It is up to Pakistan to get its economic house in order, and not anyone else. Is that too hard to understand?

There are a lot of countries who have successfully implemented several IMF plans and now they have a good economy. It all depends upon the country to implement the plan.

 

[VCheng]

IMF has head office in West,it's name is written in latin script,this provides a perfect casus belli for labeling it as some conspiracy hatched by evil west for undermining Momineen.

If it is so evil, why go to it in the first place? Whatever happened to claims of suicide rather than going to IMF? The answer must be that IMF exists to help any member state that approach it willingly for temporary help to tide over an economic crisis. What the IMF asks in return is for the state in economic trouble to follow sound economic principles, that is all, and that is also the correct thing to do.

There are a lot of countries who have successfully implemented several IMF plans and now they have a good economy. It all depends upon the country to implement the plan.

Pakistan has failed to complete a single IMF plan as originally approved and had always asked for deviances. IMF cannot be blamed here.

 

[Sine Nomine]

If it is so evil, why go to it in the first place? Whatever happened to claims of suicide rather than going to IMF?

Great leaders always take U-Turns,greater the U-Turn greater the leader.

The answer must be that IMF exists to help any member state that approach it willingly for temporary help to tide over an economic crisis. What the IMF asks in return is for the state in economic trouble to follow sound economic principles, that is all, and that is also the correct thing to do.

IMF is medicine given to those patients,who have destroyed their health by not taking balanced diet but our babus have started to think that,it's a
substitute of balanced diet.They take loan,enjoy it and then go back for more.
I doubt next time IMF would gave Pakistan anything.