India's external debt baloons to $513 billion

[ziaulislam]

India's foreign reserves are $424 billion and rising fast,compared to just $5 billion for Pakistan(rest $6 billion is held by commercial banks,and 1.7 billion is parked by foreign countries)

Indian company Reliance gets $800 million loan at just 3%,while the state of Pakistan gets it at 6.5-7%.

Aaccording to state bamk of Pakistan its 11.6 + 6.5 held by private banks ..so when did u became SBP head?

 

[Nalini]

Just the wealth of the above temple can buy out Pakistan. There are lakhs of other temples across India.

Just our Temple's, declared Gold with banks can clear 70% of all Internal & External debts. The actual Gold holdings of the each Temple will be known to the top authorities & trust only whose value nobody knows. Every Temple has secret warehouses to store their wealth. Apart from Gold, if we calculate the other ornaments, Silver, Diamonds, Sandal wood, Cash, Properties, Fixed Deposits & other secret godown wealth held by these temples, it will astonish & shock the whole world again.

India was called the Golden goose or Sone ki Chidiya in the past for which everybody invaded, looted, Plundered our temples & occupied India, In couple of decades India will again gain back the Golden goose tag. And remember this is our money & wealth which we donate to the temple. It can be used anytime in our hard hit times.

Watch the above video & please don't worry about India's debt, nothing will happen to India even if our debt doubles & if our reserves become half. Pakistan's debt is no way comparable to India, even in percentage terms, if this money comes in to play. We will not only clear our debt, we can buy over Pakistan several times.

And soon these Temple funds are going to used for our development, instead of procuring loans from abroad. The problem is only Temple funds, Hindu Religious trusts, organizations are taxed & monitored by Gov.t not Christian & Islamic religious organizations. So there is disagreement why only Hindu funds are taxed & only Hindu funds are available for the country's development. Whereas the taxes collected on our funds are spent for everybody & the temple funds used for development is also enjoyed by everybody. So argument is, it should be to develop Hindus. Anyway once these funds are available there won't be any need of foreign or external loans. The interest accrued will also remain within the country itself.

 

[randomradio]

$424 billion , you can't ignore that 24 billion dollars as it's nearly 5 times the reserves pakistan has

How is -700M multiplied by 5 equal to $24B?

https://tribune.com.pk/story/1661289/1-pakistans-net-reserves-stands-minus-724m/

 

[SunilM]

Aaccording to state bamk of Pakistan its 11.6 + 6.5 held by private banks ..so when did u became SBP head?

Well, if you want to keep your eyes closed thats your issue. But SBP reserves are fudged by an amount of 6 billion dollars as of today.

SBP borrows $3.93b to bolster forex reserves

ISLAMABAD:

The central bank has borrowed a whopping $3.93 billion mainly from commercial banks for up to three months to artificially sustain official foreign exchange reserves at $16 billion level, which had started depleting due to a sudden spike in imports.


The act of the central bank is in violation of the terms and conditions agreed with the International Monetary Fund (IMF) under the $6.2 billion Extended Fund Facility three-and-a-half-year ago. However, the agreement had expired in September 2016 paving the way for the central bank to avail the loan.

The aggregate short position in forward and future contracts has alarmingly increased to $3.925 billion as of end March this year, revealed official data of the State Bank of Pakistan (SBP).

The $3.925 billion loan is part of the $16 billion reserves held by the SBP that are currently under pressure due to growing obligations of debt servicing and imports of heavy machinery under the China-Pakistan Economic Corridor (CPEC).

More than half of these short-term borrowings are only for one month and the remaining loans have been obtained for two to three months, according to the SBP data.

In absolute terms, $2.1 billion has been borrowed for one month and $1.825 billion for two to three months. The short-term loan has been obtained from the market, predominately from commercial banks that hold $5.1 billion of their depositors.

The $3.93 billion forward position has raised the issue of double-counting of the foreign currency reserves, said former economic adviser to the Ministry of Finance Dr Ashfaque Hasan Khan.

SBP governor’s term ends, but he may get a 3-year extension

Pakistan’s total foreign currency reserves, including $5.1 billion of the commercial banks, stood at $21.1 billion as of April 21, according to SBP. The SBP borrowed $3.925 billion from commercial banks bringing down the net total reserves to $17.185 billion.

And if the borrowings are excluded from the central bank’s reserves, then official foreign currency reserves that are largely built by borrowing from various sources would stand at $12.12 billion.

The SBP spokesman had been requested to respond to the questions of the source of borrowings, the interest that the central bank was paying on these borrowings and its implications on Pakistan’s economy.

However, SBP chief spokesman Abid Qamar did not respond till the filing of the story.

The previous PPP government was also following a similar policy of short-term borrowings from the market to cushion the reserves but then the IMF put a full stop to it, terming it a ‘flawed strategy’. However, during the PPP’s tenure short-term borrowings were only half of the current level.

As of June 2013, the short-term forward contracts amounted to only $2.25 billion that also included currency swaps with friendly countries, according to IMF’s September 2013 report. During the three-year programme period, the IMF had imposed a quantitative criterion to limit these short-term borrowings at $1.75 billion.

The forward position stood at $1.985 billion by June 2016, which has now almost doubled in a span of just nine months.

SBP develops ‘universal’ mobile phone app for financial transactions

The loans have been taken following steep reduction in the official foreign currency reserves after expiry of the IMF programme. Excluding the impact of these short-term borrowings, Pakistan’s official reserves have depleted $2.4 billion since September last year.


IMF objections

A September 2013 report of the IMF had termed the central bank’s strategy to ‘top up’ foreign currency reserves levels as a ‘flawed strategy’. The global lender had expressed concern over the SBP’s heavy reliance on short-term currency swap agreements and forward contracts to boost gross reserves. It had told the Pakistan authorities that these arrangements exposed the country to risks.

After that Pakistan had agreed to gradually reduce the SBP’s short-term currency swap and forward foreign exchange positions to more sustainable levels.

Sources said heavy reliance on short-term borrowings could also bring the rupee exchange rate under pressure, which has somehow retained stability in the past. This has also put a question mark over claims of achieving historical-ever foreign currency reserves.

It is not only the central bank that is resorting to such borrowings, as the federal government is also implementing a similar strategy. The federal government has also borrowed over $3.0 billion from foreign commercial banks to support balance of payments.

The country’s external sector is currently under pressure due toexponential increase in trade deficit on back of declining exports and double-digit growth in imports. Pakistan’s trade deficit widened to $23.3 billion in just nine months.

Sources said the IMF was also looking into the matter.

https://tribune.com.pk/story/1397829/sbp-borrows-3-93b-bolster-forex-reserves/

PAKISTAN'S FOREX RESERVES AS ON DATE = 11.6 - 6 = 5.6 BILLION DOLLARS

 

[Novice09]

Such a big economy so why not start paying some of the half-a-trillion debt off?

We make payment ON TIME... FROM OUR RESOURCES AND EARNINGS... without taking loan for repayment... or without asking our friends to park some funds in our reserve bank...

Our reserves stands at $400+ billion... at all time HIGH...

 

[El Sidd]

Yes but they’re Shaivite Supremacists

Whats that like?

 

[gslv mk3]

$400 foreign reserves and $520 External debt...yes you are not, its not like Math was invented in India

You know how much your external debt is ?

 

[ashok321]

India's foreign reserves are $424 billion and rising fast,compared to just $5 billion for Pakistan(rest $6 billion is held by commercial banks,and 1.7 billion is parked by foreign countries)

Indian company Reliance gets $800 million loan at just 3%,while the state of Pakistan gets it at 6.5-7%.

The topic is following:

India's external debt baloons to $513 billion

Why come on Pakistan and be frivolous as following?

compared to just $5 billion for Pakistan

Why you did not come upon Brazil or Argentina? Why single out Pakistan when the topic is India?

This shows you have agenda.

We make payment ON TIME... FROM OUR RESOURCES AND EARNINGS... without taking loan for repayment... or without asking our friends to park some funds in our reserve bank...

Our reserves stands at $400+ billion... at all time HIGH...

Tell the world that your country India ran out of foreign exchange reserves, to the extent of having to pawn gold to the Bank of England to avoid defaulting on its sovereign debt in 1991 before attacking Pakistan unnecessarily; Since the subject is the following:

India's external debt baloons to $513 billion

 

[Samlee]

Just the wealth of the above temple can buy out Pakistan. There are lakhs of other temples across India.

Just our Temple's, declared Gold with banks can clear 70% of all Internal & External debts. The actual Gold holdings of the each Temple will be known to the top authorities & trust only whose value nobody knows. Every Temple has secret warehouses to store their wealth. Apart from Gold, if we calculate the other ornaments, Silver, Diamonds, Sandal wood, Cash, Properties, Fixed Deposits & other secret godown wealth held by these temples, it will astonish & shock the whole world again.

India was called the Golden goose or Sone ki Chidiya in the past for which everybody invaded, looted, Plundered our temples & occupied India, In couple of decades India will again gain back the Golden goose tag. And remember this is our money & wealth which we donate to the temple. It can be used anytime in our hard hit times.

Watch the above video & please don't worry about India's debt, nothing will happen to India even if our debt doubles & if our reserves become half. Pakistan's debt is no way comparable to India, even in percentage terms, if this money comes in to play. We will not only clear our debt, we can buy over Pakistan several times.

And soon these Temple funds are going to used for our development, instead of procuring loans from abroad. The problem is only Temple funds, Hindu Religious trusts, organizations are taxed & monitored by Gov.t not Christian & Islamic religious organizations. So there is disagreement why only Hindu funds are taxed & only Hindu funds are available for the country's development. Whereas the taxes collected on our funds are spent for everybody & the temple funds used for development is also enjoyed by everybody. So argument is, it should be to develop Hindus. Anyway once these funds are available there won't be any need of foreign or external loans. The interest accrued will also remain within the country itself.

Oh Really Has It Occured To You That Just One Copper Gold Mine In Chagai Is Worth India's Entire GDP Yeah Reko Diq and There Are 45 More Similar Mines In That District.

And This District Is One Of 16 High Potential Areas For Minerals Identified By German Geologists Under ADB.

Talk Is Cheap Come Back When You Can Put Your Money Where Your Mouth Is

 

[Pakistani Aircraft]

We make payment ON TIME... FROM OUR RESOURCES AND EARNINGS... without taking loan for repayment... or without asking our friends to park some funds in our reserve bank...

Our reserves stands at $400+ billion... at all time HIGH...

But India's all time reserves now cover 11 months of imports compared to when in 2008, it was more than 14 months of imports. So, why the regression, novice Indian?

 

[cirr]

Also India is a 2.5 trillion $ economy 500 billion debt is manageable

500 billion external debt, over 20% higher than your forex reserves.

 

[Foxbat Alok]

Also India is a 2.5 trillion $ economy 500 billion debt is manageable

500billion is not manageable for pak

 

[Novice09]

You know how much your external debt is ?

But India's all time reserves now cover 11 months of imports compared to when in 2008, it was more than 14 months of imports. So, why the regression, novice Indian?

https://tribune.com.pk/story/1636130/2-pakistans-external-debt-liabilities-touch-89-billion/


Well people here are the economic experts who are acclaimed internationally... Most of them take Chinese loans for CPEC as investments... it shows their calibre...

Although I'm not a person who has good command on economic... but I can see the long term benefits of GST and current bank reforms...
Things are simple you have debts and earnings... the day you can't pay your debts from your own earnings... it is a problem...

 

[Nalini]

Oh Really Has It Occured To You That Just One Copper Gold Mine In Chagai Is Worth India's Entire GDP Yeah Reko Diq and There Are 45 More Similar Mines In That District.

And This District Is One Of 16 High Potential Areas For Minerals Identified By German Geologists Under ADB.

Talk Is Cheap Come Back When You Can Put Your Money Where Your Mouth Is

Ha Ha Ha. Your underground resources are of no use if you don't have money to mine or grow your economy or control your debt. If your forex reserves run out, your leaders will have no choice but to pledge or sell one by one the country's businesses, assets & resouces to who ever willing to give money. They will take their money & go to the west escaping the public's wrath & the riot torn country. Protests & riots increase in a country where there is economic crisis. The day the public is standing in queues for petrol & your ATM's have no money, it means the conuntry is done. You will get there in next 2-3 years. Already your leaders is selling your country's assets one by one. Your industries are collapsing one by one. It's easy to buy these at throw away prices.

A consortium of Chinese companies have bought out 40 per cent ownership of Pakistan's only stock exchange, which is based in Karachi.

Nobody wants your Airlines - In another 2 years, it will all be available at a dead price & it will be a foreign who owns your airports & all airlines.

Same will happen to your Railways & even your Public transport.

When this happens you will allow other countries to come & run your country. So in your case, chinese will start arriving in large no.s from next year. By 2020-21, they will be sitting as heads of every industry, sectors. You have already pledged most of your important assets. If India & the west didn't put a spanner in AJK GB, China would have already been coming in to Pakistan & even sitting in Parliament.

A country can be easily bought out by trapping it in loan. Pakistan may not even need 600-800 Billion $ to buy out every inch. 300-400 Billion to trap & another 100-200 to bring Military genocide & control like Xin-Jiang & Tibet. How much has China loaned you & try & figure out what's is happening with the Chinese. Your resources is of no worth. If you have 2 Trillion in your pocket, you can go in to Pakistan & buy it out without using half the money. Invest half the money to get main assets mortgaged at a fraction of the value of the asset & collect interest. You would recover your investment in interests & once they are unable to pay even the interest the property is yours. China is exactly doing that.

Only the 2 temples (Tirumala Tirupathi & Anantha Padmanabha) mentioned can easily shell out 2 Trillion from its kitty. The collections & interest on their wealth earned, cross half a billion (600-700 Mln $) every year.

http://foreignpolicy.com/2017/07/03/pakistan-cant-afford-chinas-friendship/

https://propakistani.pk/2017/01/05/pakistan-mortgaged-airports-motorways-buildings-get-loans/

So many countries are in the verge of collapse or are already failed state. Look at the below almost failed ones.

Petroleum is Sudan's major natural resource. The country also has significant deposits of chromium ore, copper, iron ore, mica, silver, gold, tungsten, and zinc.

Yemen's has oil and natural gas as well as agriculturally productive land in the west. Other natural resources include fish and seafood, rock salt, marble, and minor deposits of coal, gold, lead, nickel, and copper.

Somalia has untapped reserves of numerous natural resources, including uranium, iron ore, tin, gypsum, bauxite, copper, salt and natural gas. Due to its proximity to the oil-rich Gulf Arab states such as Saudi Arabia and Yemen, the nation is also believed to contain substantial unexploited reserves of oil.

Syria is a oil rich country. Other major minerals produced in Syria include cement, gypsum, industrial sand (silica), marble, natural crude asphalt, nitrogen fertilizer, phosphate fertilizer, salt, steel, and volcanic tuff, which generally are not produced for export.

Zimbabwe has abundant natural resources including gold, coal, iron ore, chromium ore, vanadium, asbestos, nickel, copper, lithium, tin, and platinum group metals. The impact of Zimbabwe’s political instability and corruption has greatly affected the advancement of its mining sector. (Almost a Chinese colony)

Ukraine is rich in natural resources: coal, iron ore, manganese, nickel, uranium and others. The reserves of sulfur are the largest in the world, the reserves of mercury ore are the second largest. Ukraine has more than 5% of the world reserves of iron ore.
Also, there are oil and natural gas deposits. (Their Girls are on sale - Chinese come & take the best girls. It's like the old Swayamwara choosing.)

Venezuela is the biggest oil producing country among Latin America & has Proven oil reserves of 297 billion barrels even higher than Saudi Arabia. (On the path to become a future Chinese colony)

Libya is a oil rich country It's key natural resources include natural gas, petroleum and gypsum.

Belarus strategically important resources include potash and rock salts, oil, peat, construction materials and raw materials for their production, underground fresh and mineral water. Fuel mineral resources of Belarus include oil, oil gas, peat, brown coal and combustible shale. Belarusian Ruble experienced a decline of more than 30 percent in 2015 alone and it subsequently under-performed in 2016 as well.

Egyptian Pound declined by as much as 59% in 2016 because of the Government’s decision to float its currency
Argentinian Peso also fell by 17% against the US Dollar in 2016
North Korea is also surrendering itself because it's almost in the verge of collapse. Any time riots will happen & the crazy Kim will be killed.

 

[Shah Khalid]

Ha Ha Ha. Your underground resources are of no use if you don't have money to mine or grow your economy or control your debt. If your forex reserves run out, your leaders will have no choice but to pledge or sell one by one the country's businesses, assets & resouces to who ever willing to give money. They will take their money & go to the west escaping the public's wrath & the riot torn country. Protests & riots increase in a country where there is economic crisis. The day the public is standing in queues for petrol & your ATM's have no money, it means the conuntry is done. You will get there in next 2-3 years. Already your leaders is selling your country's assets one by one. Your industries are collapsing one by one. It's easy to buy these at throw away prices.

Funny The Way You Talk

As For Our Resources Don't You Worry Your Puny Little Retarded Head We Will Extract When We Need To It's Our Wealth So Our Headache Not Yours

(Their Girls are on sale - Chinese come & take the best girls. It's like the old Swayamwara choosing.)

Not Surprised You Said This

https://www.reuters.com/article/us-...e-deals-to-men-from-gulf-states-idUSKBN1CF1F7


https://www.indiatimes.com/news/ind...n-to-gulf-countries-via-sri-lanka-261330.html

Now I Know Where You Got Your Forex Reserves From