IMF imposes 'stringent austerity measures' on Pakistan.

[Panther 57]

Pakistan was bankrupt on the day of independence but as years passed, we couldn't find the right people and solution. The Generals, who ruled for the most part, allied with the United States with a begging bowl in their hands. The green paper we received during Ayub, Yahya, Zia and Musharraf eras had got us into the condition of fighting wars for others and hence to this day, you could see the reaction.

The PPP continued that pro west policy and those who call them democratic must be seriously mistaken. I'll be honest and give credit to the Army for spending money on development but here during Zardari tenure, you expected absolutely nothing but 100% 'looting' by Feudal Lords.

It would be a miracle if Nawaz government can achieve its stance of 'trade not aid'. But to bring order, you need to get yourself out of various institution debts. You could have tax reforms, which i think PML-N did do to increase net revenue in the first few months, however, in reality its a slow painful process and certainly complex when you are carried with the label of developing country. Historically, the only country who really benefited from IMF Loan to achieve world standing is South Korea. These people were far far worse than what our position is today. I have no idea what our government is doing but i hope they did their homework.

I guess you need to check on the red highlighted one. Pakistan has been shackled in loans by political governments.

 

[Chinese-Dragon]

Pakistan desperately needs economic reforms.

No amount of aid is going to help when less than 0.6% of people pay taxes.

If Pakistan truly wants "Trade not aid" they are going to have to conduct some serious economic reforms.

We for example, are still conducting economic reforms right now. Just yesterday we opened the Shanghai Free Trade Zone for the first time.

 

[Cyberian]

That's the question we as Indians need to ask.Pakistan's External debt is 33% of the GDP while its 21.2% for India,how are you going to pay off


PS - Trying looking at the external debt composition of India and Pakistan.

Yes, please give us tips how India pays off its external debt of nearly $390 billion as of March 2013. This debt grew by almost a $1 billion a week for the fiscal year 2012-2013. Please tell us, so we may learn something and possibly adapt India's economic system.

 

[bandit]

Yes, please give us tips how India pays off its external debt of nearly $390 billion as of March 2013. This debt grew by almost a $1 billion a week for the fiscal year 2012-2013. Please tell us, so we may learn something and possibly adapt India's economic system.

Pays off by March 2013? Unless you were living with Osama that date is already past.

Regarding debt, India has 390 B debt and 290B reserves. Leaves a gap of 100B, significant maybe for Pakistan, but peanuts for economy like India.

 

[karan.1970]

Yes, please give us tips how India pays off its external debt of nearly $390 billion as of March 2013. This debt grew by almost a $1 billion a week for the fiscal year 2012-2013. Please tell us, so we may learn something and possibly adapt India's economic system.

India's external debt to Forex reserves is 1.41 as against Pakistan's ratio of 6.0... So, yes, you would be lucky if you can adapt to our economic model

 

[Cyberian]

Pakistan desperately needs economic reforms.

No amount of aid is going to help when less than 0.6% of people pay taxes.

If Pakistan truly wants "Trade not aid" they are going to have to conduct some serious economic reforms.

We for example, are still conducting economic reforms right now. Just yesterday we opened the Shanghai Free Trade Zone for the first time.

The problem with people in Pakistan is that they travel back and forth to Arab countries and they see the rich Arabs living like kings without paying any taxes. People in Pakistan believe or are lead to believe by nearly all Governments that the Pakistani land is either rich as or much richer than the Arab countries. Therefore, the Government should provide everything for free to the people and if they don't, that automatically means that the politicians are corrupt.

The Super Rich Pakistani Land myth is something that people simply refuse to ignore. Nobody wants to compare the tiny economic numbers with the 184 million people number.

 

[cloud_9]

Yes, please give us tips how India pays off its external debt of nearly $390 billion as of March 2013. This debt grew by almost a $1 billion a week for the fiscal year 2012-2013. Please tell us, so we may learn something and possibly adapt India's economic system.

LOL! Comprehension FAIL.
Why don't you stick with posting crappy news on India or do a crash course in Economics 101

 

[Mahabali]

Hats off to you for nailing this.....Its time you educated the young and old to see reason and live in reality rather than some halucination of divine intervention.

The Almighty will also help only those who help themselves....also ask yourself have you brought grace or disgrace to that holy name by your actions and reactions.

No country is blessed with all the resources and that is where the people of that country rise to the ocassion and fullfill the gap....the best example of this is China in our neibghourhood.

The problem is you and your destiny is in control of rich capitalist politicians and corrupt generals who spin different stories to stay in power and the common man laps any story laced with pseudo patriotism and religion.