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

[Norwegian]

How can one argue with you when you have already made up your mind, that's why I kneeled out my friend.

I would have praised PMLNs performance if after 5 years, Pakistan was back on track and no longer needed more aid. How long Pakistan is going to continue living on borrowed money? Debt is only piling up no matter it is Musharraf, PPP or PMLN.

 

[Canuck786]

One more thing; After 106 days you have to show something more than playing the blame game.

 

[Norwegian]

One more thing; After 106 days you have to show something more than playing the blame game.

Excuse me? The debt is not 1 billion dollars but 100 billion dollars that require 2 billion dollars monthly payments. Good luck paying that back. Government can print money to pay internal debt but for external debt you need foreign loans.

 

[Sam.]

Damn we’re 2.85 trillion? We sre gonna breach 3 trillion nxt year then!!!

I provide the more current and 2019 is in one month.

But yes we will cross 3 trillion marks between July'19 to Dec'19 approximately.

 

[Aryan0395]

Sure our reserves are bad, but it's only a short-term issue. The focus is on exports and this issue can be catered with that. Nothing to worry about, you did mention your reserves are about 400 B. I mean surely 393 is less than 500 is it not? I mean it's not as bad as having 15 B compared to 95B, but still it's bad. Btw. Pakistan GDP is about 305 B, you forgot to plug that in your comment when you were mentioning about India's GDP.

Congratulation on ur 305bn gdp, but does it really matter if its not enough to pay off ur import bill and keep country afloat.
Both our nations, India and Pakistan, have similar debt to gdp ratio at 69% and 70% respectively.
but our country are clearly not in similar position when it comes to paying them back.

 

[N.Siddiqui]

How is it governments fault? All PTI had to do was go to IMF like its predecessor, get billions of dollars more loans, and voila, you get all FDI, CPEC back. No current government won't be repeating past mistakes.


@Canuck786 you can't borrow to pay back past debts, or borrow to spend for ever. Somewhere it has to stop and government must implement new strategy. Nations GDP was ballooned through artificially controlling the price of dollar. As dollar fell, so did the value of GDP along with it. Was it really worth it?

Three main things which proves that economic conditions are improving, decrease in trade deficit is the main thing, which is now halved, from about 2 billion USD per month to 1 billion USD per month, exports has increased by close to 15 percent, imports dropped, remittances is increasing, it has decreased in India...check the points below.





In August 2018: Current account deficit contracts 72% due to drop in imports

https://tribune.com.pk/story/180746...ccount-deficit-contracts-72-due-drop-imports/




Trade deficit shrinks as exports grow faster than imports

https://tribune.com.pk/story/1800886/2-trade-deficit-shrinks-exports-grow-faster-imports/




Foreign remittances sent by overseas Pakistanis increase by 13%

https://nation.com.pk/11-Oct-2018/foreign-remittances-sent-by-overseas-pakistanis-increase-by-13

 

[Norwegian]

I provide the more current and 2019 is in one month.

But yes we will cross 3 trillion marks between July'19 to Dec'19 approximately.

View attachment 524664

Congratulations INDIA for that achievement.

 

[maithil]

Do tell me again when was he elected? And prove me how is it all his fault? And yes I agree he is handsome as compare to NS or Zardari.

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 ?

 

[I FLY HIGH]

IMF programs are made to put nations in more debt. Unless of course government is smart enough to generate self-sustaining economy, and thus no longer require IMFs assistance. Remember India too went to IMF, but ONCE unlike your experienced Finance Minister that went again and again.

Self sustain economy with double digit kibor ? lowest govt spending ? it is your master finance minister, with this attitude to run the govt even imf cant save you .

 

[Canuck786]

I would have praised PMLNs performance if after 5 years, Pakistan was back on track and no longer needed more aid. How long Pakistan is going to continue living on borrowed money? Debt is only piling up no matter it is Musharraf, PPP or PMLN.

They did something.. Kept the inflation around 5, took GDP growth to 5.8%, took a giant leap in the energy sector and enhanced security by almost eliminating terrorists from the country. Beside that, lot of development in the education and health sectors was done. What is PTI government doing in the past three and a half months. Everything is out of control. Prime minister say goodwill in Kartarpur and foreign minister says googly, prime minister says SBP didn't take government in confidence of rupee devaluation, finance minister say , they did and so on.. DPO, IG's and even SHO's replaced for doing their duty?

 

[Norwegian]

Self sustain economy with double digit kibor ? lowest govt spending ? it is your master finance minister, with this attitude to run the govt even imf cant save you .

LOL. IMF can bail out Pakistan anytime just like Past. But is it worth it?

They did something.. Kept the inflation around 5, took GDP growth to 5.8%, took a giant leap in the energy sector and enhanced security by almost eliminating terrorists from the country. Beside that, lot of development in the education and health sectors was done.

Yes in 5 years not 3 months. I remember first 3 months of PMLN were total chaos until IMF bailed them out as usual.

 

[Sam.]

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 ?

Sorry for that it was others who brought India in discussion so i will leave at that. However Pakistan situation is in dire situation.

• Industrial output not looking great
• Agriculture output not looking great
• Service sector is okish
• Tourism sector is not looking great

This is what i gather from the glimpse of it.

 

[I FLY HIGH]

LOL. IMF can bail out Pakistan anytime just like Past. But is it worth it?

Who will invest in pakistan with 10% kibor and still increasing? local or foreign ? pls shed some light?

 

[Norwegian]

5 year economic performance of Nawaz Sharif / Ishaq Dollar:
Nawaz added whopping $35b to Pakistan’s debt

@I FLY HIGH @Canuck786

 

[BRAVO_]

it is then my fault not to retain the investor , back stab CPEC, not to control flight of capital , devaluation, crashed stock exchange ? food for thaught for you is when pmln govt was in imf plan and went into revised plan why investor didnt take the equity out of country and why pmln didnt devalued the rupee and still managed to complete the imf programme?

how pmln controlled the Dollar artificially everyone knows about it .. and we are now paying the price for the same mistake, currently Rupee is at its natural value, its true that due to devaluation for ordinary public, prices of day to day items got affected but on the other hand it appreciate exports and reduce import bill as well