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Pakistan’s IMF debt burden shrinks by $2.522b with 7th repayment

VCheng said:
Don't worry. I am sure that Riaz Haq will be around trumpeting "All is Well!" soon enough. :D

Multiply the size of the economy by adding in an inflated underground economy. Sprinkle in the magic of a skyrocketing stock market. Add selected opinions of obscure "experts" who feel bullish about the economy. Put in a few links of self-promoting Youtube videos.

Viola! All economic problems are solved. :lol:
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I initially use to debate with @RiazHaq then I realized he was not someone whom you can have serious debate.
 
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Azazel said:
Its the circular debt.They are borrowing more money to pay off their debt.Its like using credit cards to pay off mortgage.
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Pakistan's caretaker government is again negotiating for $5 Billion loan from IMF.
 
INDIC said:
Pakistan's caretaker government is again negotiating for $5 Billion loan from IMF.
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No, the caretaker government has refused to go to IMF.

Azazel said:
Nah,They don't have the balls to deal with this issue.Only new govt can do it.
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It is a matter of whether a caretaker government has the mandate to make such long term financial commitments, since it exists mainly to hold elections and transfer power.
 
Argus Panoptes said:
It is a matter of whether a caretaker government has the mandate to make such long term financial commitments, since it exists mainly to hold elections and transfer power.
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Of course they have the mandate.They can even prepare a short budget if necessary.If the country is facing a BoP crisis they are expected to do everything necessary including a securing a foreign loan .The thing is that the conditions of the IMF bailout will be highly controversial they won't be able to handle the heat.
 
Azazel said:
Of course they have the mandate.They can even prepare a short budget if necessary.If the country is facing a BoP crisis they are expected to do everything necessary including a securing a foreign loan .The thing is that the conditions of the IMF bailout will be highly controversial they won't be able to handle the heat.
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The present caretaker government has one mandate to hold the elections. Long term financial planning is not its mandate.
 
karan.1970 said:
A little confused.. A few months back Pakistan's external debt used to be in the range of $60 billion. Today I see it reported as $65 billion.
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How come the debt is going up despite such hefty loan payments being made ?
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Interest.
I suspect a large part of the principle has already been paid. It's just the interest that keeps piling up and bloating the numbers. Don't want to blame anyone, but PPP really killed our Forex with their mismanagement.
 
There was some talks of taking Loan from Qatar. But i think they will charge more interest.
 
Argus Panoptes said:
The negotiations will continue, but the final commitments will be made by the elected government after deliberation and approval, not the caretaker.
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Agree. These decisions should not be taken outside an elected Parliament or it's appointed Commission. Regardless of whether the Constitution grants caretakers the right to do so or not.
 

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