List of loans taken by PML-N since May 2013

[Hyde]

Will Pakistan see a new system replacing the current Failed system.

Democracy is a fruit which you reap after a long time. It is a failed system due to our confused nation. With the passage of time, it will twisted and improved and further improved to make it suitable/compatible for our society.

 

[Luftwaffe]

I am certain Pakistan over all debt if the government drag it to 5 Years by 2018 would be some $95-100B from $84B currently.

 

[xyxmt]

Hence In short pml-n intreprets it as "NO PLAN" in place for Pakistan.

dont kid yourself there is no plan in place with any political party, every new day brings a new plan

 

[Hyde]

I am certain Pakistan over all debt if the government drag it to 5 Years by 2018 would be some $95-100B from $84B currently.

where did you get the 84 billion dollars mark

It was 59.383 billion dollars as of December 2013 down from the peak of 65 billion dollars.

http://www.sbp.org.pk/ecodata/pakdebt.pdf

It still stands close to 60 billion dollars in May 2014.

 

[Hyde]

I was actually surprised with the language World Bank used while approving the latest 1 billion dollars loan

“The Government of Pakistan deserves appreciation for stabilizing the economy, initiating reforms in the power sector as well as revenue mobilization and drawing in the private sector for spurring growth”, said Philippe H. Le Houérou, Vice President of World Bank Group’s South Asia Region.“Staying on the structural reform path is important for competitiveness of the economy, which in turn is essential for creating jobs and lifting millions out of poverty in Pakistan.”

Source from the World bank official site: World Bank Group Approves $1 billion for Supporting Economic Reforms in Pakistan

 

[Luftwaffe]

where did you get the 84 billion dollars mark

It still stands close to 60 billion dollars in May 2014.

Bahi maybe you are correct but when the khape arrives the status would change that to 79ish+ no? or are you saying $60b includes the loans being taken because I doubt they would reflect it before deposited/transferred. In any case 16/18b + 60b not even going to count in the plans of pml-n for the next 4 years when they digest these to their foreign accounts.

 

[Hyde]

Bahi maybe you are correct but when the khape arrives the status would change that to 79ish+ no? or are you saying $60b includes the loans being taken because I doubt they would reflect it before deposited/transferred. In any case 16/18b + 60b not even going to count in the plans of pml-n for the next 4 years when they digest these to their foreign accounts.

The loans we are talking about will be received in batches until 2019. So if it is not wrong to say that if we take no further loans, the foreign debts may pile up to 80 billion dollars by 2019. If we took more loan in the coming 4 years then we are not sure where it's gonnai end up to.

Basically The 6.6 billion dollars of loan from IMF is used to pay off the existing 7.5 billion dollars loan. So technically it is not wrong to say that after taking this loan, we managed to rather reduce the loan by 1 billion dollars. So don't be confused and don't count it as 6.6 billion dollars + 7.5 billion dollars.

The bottom line is, in the first 11 months the government has apparently secured 23 billion dollars of loan already. That should take the total loan from current 60 billion dollars to 83 billion dollars. So logically speaking part of the loan taken is used to pay off the existing loan such as IMF 7.5 billion dollars deal signed in 2008. So take away 7.5 from 83 billion dollars and if no further loans taken after that, we may end up close to 77 - 80 billion dollars by 2019.

The reason I tried to clarify to you in so detail is because you already assumed that our loan has piled up to 84 billion dollars. It will/may be but after we have received the tranches of loan.

 

[BATMAN]

What this picture does not show is the level of forex available respectively, timing of reimbursements of military services in WOT, remittances from middleast etc.

When Zardari took over (thanks to ImRAWn Khan) forex reserves were above $15billion and about $1 billion in shape of earth quake rehabilitation fund were available, and about $10 billion were out standing against US accounts, against the war services contract.
Zardari's corrupt way of doing business is well known in Pakistan, he also made money out of transit aid, Hajj money, and he did not built a single road.

 

[WAR-rior]

Lets compile the list of debts/loans/bonds whatever you wanna call it has been taken by PML-N and/or under negotiations with the IMF, World Bank, ADB, Islamic Bank and other Financial Institutes.

I believe that's

WB approves $12 billion loan for Pakistan - Pakistan - DAWN.COM

World Bank approves $1 bn loan to Pakistan - Yahoo Finance UK
or
World Bank approves 3 loans for Pakistan worth $1.125 bn – The Express Tribune

IMF gives green light to $6.6bn Pakistan loan - FT.com

Bonds worth 2 billion dollars

So that's 2 billion dollars of bond + 12 + 1 + 6.6 billion dollars I suppose = That's about 22 billion dollars of loan under negotiation/approved and there is more from Islamic Bank.

Can somebody shed the light on this matter?

Please note: This thread is about the loans that has been approved/received/under negotiation in this tenure of PML-N Government. Please do not discuss the past of any other government. The discussion of whether this loan being taken for a good cause or bad, we can do that after we have compiled the total figure of loans if possible

Buddy. Loans are loans. Its not good cause bad cause. Its only good Execution and Bad execution.

Coz, when u dont mince out profits on ur loans, the interest rate and paybacks simply shoots up ur currency adding to inflation.

So many loans - Good.

If Pakistan execute - Growth in GDP
If doesnt - Currency around 120+

 

[Hyde]

Buddy. Loans are loans. Its not good cause bad cause. Its only good Execution and Bad execution.

Coz, when u dont mince out profits on ur loans, the interest rate and paybacks simply shoots up ur currency adding to inflation.

So many loans - Good.

If Pakistan execute - Growth in GDP
If doesnt - Currency around 120+

Indeed, agreed

 

[Hyde]

I do appreciate many good steps taken by Musharraf to improve the economy of Pakistan but we should never alter the facts

When Zardari took over (thanks to ImRAWn Khan) forex reserves were above $15billion and about $1 billion in shape of earth quake rehabilitation fund were available

The foreign reserves in 2006 were indeed close to $15.5 billion dollars but it dropped to 11.3 billion dollars in 2007 and 12.4 billion dollars in 2008.

Source: http://www.sbp.org.pk/ecodata/forex.pdf

Which 1 billion dollars are you talking about Sir? any reference? and if we had received 1 billion dollars for earthquake, wasn't it deposited in the foreign exchange account? if that's the case then didn't it constitute part of total reserves/at least temporarily? Then why are we counting it separately? If No then kindly share the proof. Besides that the billion dollar which I don't remember anymore was given for earthquake and not to keep it so it was imminent to disappear from the reserves even if that means it was going in the pocket of Zardari.

and the gap between import and exports had widened up so badly that it was getting hard to make payments for imports. We even oversold agricultural products such as Wheat and later had to buy it again from International market after facing shortage of wheat in the country. When we had sold the wheat, the foreign reserves indeed rose up temporarily but after we had to purchase again, it was levelled again, the reserves were being wiped up very quickly when PPP took over. Had the economy been in good shape, we wouldn't be running after IMF as soon as the new government took over. We may have waited for sometime at least...

The bottom line is the true value of reserves was close to 11 billion dollars when Musharraf departed and not 15 billion dollars

*Edited*

 

[tarrar]

I don't know how Govt. can claim they are on development track when the only thing I see is massive corruption & worsening situation on Pakistani people in Pakistan. Most importantly I don't see a single penny been spend in Pakistan.

 

[Hyde]

I was listening to somebody 2 days ago and he claimed when you accumulate the total figure of the loan the government plan to take for the next 10 years that's about 52 billon dollars in total.

That means our foreign debt may be standing around 110-115 billion dollars by 2024.

 

[ziaulislam]

foreign debt, loans are not really the basic indicator for economy...e.g pakistan debt situation is better than india and many western countries ..
GDP growth, investment/GDP%,political stability, taxation, health and education as well govt spending are...

 

[Hyde]

I think this thread needs an update... So any more loans after where we left off?