Pakistan’s external debt, liabilities shoot to record at $96.7b

[SunilM]

Btw PSX down by another 700 points. Will it cross 1000 points today also?

https://www.psx.com.pk/

 

[N.Siddiqui]

Pakistan uses more than 50 %

India uses borrowings from many source to pay bad accumulated debts as well, more than Pakistan. Pakistan budget spend on debt servicing will hopefully lowers in coming years with austerity measures and economic improvement.

 

[Norwegian]

ap ko yeh kis ne bataya hai? book is different than the ground reality thats why Asad umer is struggling .

We who live in West know how economy functions. Pakistan is in the same economic world.

 

[xyxmt]

100 Billion $ is nothing for Kaptaan. He is rockstar in raising funds. Probably the best in Asia. He will request Pakistanis living abroad to donate funds, and they will donate 500 billion $.

tum log sotey rehna aur Pakistanis living abroad will keep sending you money

 

[SunilM]

ASAD UMAR MAY BE OUT OF JOB SOON NOW. New Minister Shamshad Akhtar

 

[Aryan0395]

....i simple wordings.

If debt is bad, taking new loans to pay back old ones has all the makings of a debt trap and the Indian government seems to be doing just that. India owed Rs 57,75,685 crores to internal and external lenders in the financial year 2014-2015 – a whopping 46% of the country’s gross domestic product. And it turns out that 77% of all long-term borrowings made by the government were actually used to pay back interest and principal on earlier borrowings rather than being spent on development expenditure.





India’s Debt Trap – 25% Of The Budget Is Spent On Paying Of Debts

https://thelogicalindian.com/story-...25-of-the-budget-is-spent-on-paying-of-debts/

Bad debts aren't the ones that indian govt owes to foreign institutes, but the ones that indian citizens owe to indian banks. You are confusing the 2.
You can use big and surprising words like "whopping" all u want in reference to our national debt (which means debt owed by govt to foreign institutes) but if IMF comes out and says something, id listen to IMF. And they are saying its manageable and we are in a good position.

 

[xyxmt]

ASAD UMAR MAY BE OUT OF JOB SOON NOW. New Minister Shamshad Akhtar

I hope this is true, my initial qualm with PTI was to consider a profit and loss statement making MBA as finance minister, a completely inappropriate person for this job.

 

[I FLY HIGH]

We who live in West know how economy functions. Pakistan is in the same economic world.

face palm for your comments on economy, let me put a question , In pakistan 20 billion dollars is the official figure for remittances and it is estimated that another 10-15 billion usd enters in from unofficial channel. First is you do administrative actions and try to stop illegal movement but if you do not succeed then what are the ways and means /policies /soft actions by which a Finance minister intelligently sucks in that black money or illegal forex into your economy to support current account deficit/balance of payments? pls answer as you live in west and you know the economy very well?

 

[maithil]

tum log sotey rehna aur Pakistanis living abroad will keep sending you money

Overseas Pakistanis are biggest asset of Pakistan. Pakistan will be ever grateful to patriots living abroad.

 

[VCheng]

Just telling you for all India's problems, the external situation is much more under control than Pakistan's.

500 billion debt / 2.5 trillion market cap = 20% leverage (with investment grade credit rating)

100 billion debt / 100 billion market cap = 100% leverage (With junk grade credit rating)...and there is another thread that says double leveraging is really starting to be problem in Pakistan...esp in short term debt liabilities.

You don't simply say India is 5 times the debt of Pakistan without the important qualifiers.

I mean what is Japan and US debt?...they are doing worse because they are more over-leveraged than India?

And who is talking about KSE only? I am talking about the total listed market cap in entire country. If there is black money problem, then thats on Pakistan to fix and bring to the book to be invested soundly.

You can pass it off as "not a problem"....but we will see the reality happen ourselves now.

@VCheng

Unpopular as this may be on PDF, I will openly admit, that despite serious problems of its own, India as a whole is far better placed to successfully meet its present and future challenges, specially economic, than just about every other country in South Asia, without a doubt.

Cue the snide comments about toilets and manhood sizes ......... which placate the prejudiced but do nothing to affect the above assessment.




Pakistan, on the other hand, is far more likely to end up in dire straits as the straitjacket of its own making strangles it financially over the next couple of decades.

100 Billion $ is nothing for Kaptaan. He is rockstar in raising funds. Probably the best in Asia. He will request Pakistanis living abroad to donate funds, and they will donate 500 billion $.

Will that be in addition to the $200 billion in stolen money that will be returned to the Pakistani people?

Between Jan and July of this year, debt increased by ~ 4 Billion. Its been another 6 months since then. Safe to assume that debt would have increased by another 2-3 billions ?

IK did not inherit an enviable economy. Everyone (even his harshest critic) will agree to this. Its his own (and his supporters) statements regarding transforming economy, which are coming back to bite him. If his team does manage to stabilize economy ( which is NOT in crisis as of now ), his past stance will not matter.

And Can we please stop discussing India's numbers ?

The old advice that when one finds oneself in a hole, the first step should be to stop digging any deeper, comes to mind here. How can Pakistan expect to climb out of this financial hole when it refuses to stop digging deeper?

 

[pak-marine]

Here you go LUNDIAN:
$200bn of Pakistan in Swiss banks: Dar

whoever said this There is no $200Bn stashed in swiss accounts that was a garbage / fake news Read this :

https://www.dawn.com/news/1123736

 

[Syed1.]

kaptaan is a legend , dont talk about debt shit , just look how handsome is our kaptaan.

Chori tera baap karay aur paisay wapis kaptaan laye teen mahinon mein???.... bc yeh saray khota khor ko littar milaynay chahye

 

[Norwegian]

face palm for your comments on economy, let me put a question , In pakistan 20 billion dollars is the official figure for remittances and it is estimated that another 10-15 billion usd enters in from unofficial channel. First is you do administrative actions and try to stop illegal movement but if you do not succeed then what are the ways and means /policies /soft actions by which a Finance minister intelligently sucks in that black money or illegal forex into your economy to support current account deficit/balance of payments? pls answer as you live in west and you know the economy very well?

You are dumber than I thought. Foreign currency only moves physically between international banks and other legal financial institutions such as Western Union. As for the rest, the illegals use cheap and fake systems like Hawala and Hundi, where real physical transactions do not take place. Government has already started crack down against these thugs and crooks. And when they go out of business people would have no choice but to use legal channels.

 

[xyxmt]

Overseas Pakistanis are biggest asset of Pakistan. Pakistan will be ever grateful to patriots living abroad.

thats why I am saying, tum chain ke bansi baja ke sotey reho

 

[Abdussamad]

You are dumber than I thought. Foreign currency only moves physically between international banks and other legal financial institutions such as Western Union. As for the rest, the illegals use cheap and fake systems like Hawala and Hundi, where real physical transactions do not take place. Government has already started crack down against these thugs and crooks. And when they go out of business people would have no choice but to use legal channels.

This is not true. The differences between hawala and money transfer via banks are as follows:

- no regulatory oversight of hawala transactions. you can send anyone money via this system regardless of whether they are a saint or a sinner in the eyes of the government!

- formal financial system does not have access to the funds held by hawala agents. they can't lend this money out. government can't borrow it or tax it. when we receive foreign currency via hawala it doesn't show up in the countries forex reserves although the effect is still the same.

- hawala is based on personal relationships rather than institutional trust. you don't have to know your banker to send money via a bank but you have to know and trust your hawala agent.

With both banks and hawala there is no physical movement of currency notes. It's simply a case of messages being passed back and forth telling their foreign correspondents to debit their accounts with them and pay such and such a person. The banks (and WU via the banks) use an encrypted messaging system called SWIFT. Hawala operators use phone calls and whatsapp now I guess!

If the government cracks down on hawala people will switch to cryptocurrencies which don't depend on trust at all. There is no stopping money laundering in the modern world.