Patriot forever
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I agree but the main underlying problem in our economy is unsustainable import based model of plmn. If you are runing a foreign account deficit, than you need to borrow firstly to balance your external account deficit, 2nd for the interest and 3rd to repay principal mount. If we understand these 3 factors we will understand the debt trap that Pakistanis in. Plmn destroyed he fundamentals of our economy. Unless we address this basic flaw in our economy we can not overcome this crisis.I'm not ashamed to admit I don't know much about economy and all the technical terms...if u have such knowledge and can find out the nitty gritty details and explain to me in laymen's terms about how this loan would better the situation...I'm all ears.
I don't make it about this party or that party...I'm not some jiyala or patwari. My wish is simple...which is to see the nation prosper...so that ppl don't suffer and can live a respectable life. My post was based on the general notion...that if I take a loan of let's say a $100 dollars...then to pay off that I take a loan of $150 to pay it off and it's interest...then another loan of $300 to pay the $150(plus interest)...
...u can see how it becomes very unsustainable very fast. The previous governments have been doing this...and the total debt has only grown over decades.
But if this case is different...plz do tell...I want to know more about this.
IMF, World bank are one of the cheapest source of funding. And in the current post covid scenario its more cheaper. We should take as much of it as possible and try to roll over some of the more expensive loans. This will give us some relief interns of interest payment.