Jacob Martin
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Pakistan is bankrupt?????? So says the person who comes from the country that has 40% of the WORLD'S severely malnourished and wretched poor:
Shocker: India constitutes 40 percent of world's malnourished children
If bankruptcy means Pakistan does not have the above hell for our nation then I'd take bankruptcy each and every time. According to indians on PDF, india is going to surpass China and america in every field withon 5 years and make Afghanistan a major economic power on the way. The above article is indicitive of reality and indian fantasies.
But the blather you just wrote does not take away from the facts that I mentioned that pretty much indicate that Pakistan's economy is collapsing and the government is bankrupt. Do you know how pitifully small $500 million is for a country of 200 million people? And yet, Pakistan needs to borrow that money just to pay interest on its loans. Think about it. That is as bankrupt as they come.
To add, IMF had strongly suggested a devaluation in Pakistani currency while doing that. Outstanding debt is nearly 140B as of now.
Actually, IMF's Pakistan intervention is a long story. To cut a long story short, IMF knows that Pakistan is not meeting any of the qualification norms for further tranches, but it is willfully looking the other way. IMF wants Pakistan to default by taking more and more bailout money, so that it can then dictate terms to the Pakistani government about its notorious "structural adjustment program". A few billion dollars is chump change for buying the government of a large country like Pakistan.
So while Pakistanis are busy spinning stories about poor India with no toilets, malnourished children and "intolerance", their country is being purchased by IMF for $500 million. Pathetic.